Products
CSSF Reporting
CEDRS

U IT - Friendly, dynamic & innovative RegTech


logo U IT
uit

CEDRS

CEDRS
On premise CEDRS reporting solution

CEDRS stands for Central Electronic Data Retrieval System. Announced early 2020, this new reporting obligation mainly target banks. U IT provides a solution with many key advantages.

RGen CEDRS
Offline CEDRS reports generator

Batched solution which converts raw data to the expected JSON format. We use the best of our knowledge & experience in automation to provide with a strong, adaptable & configurabe application.

SAPI CEDRS
Manage internally your CSSF filings

New Secure Channel based on tight and high level secured transmission technics. Requires strong development skills and knowledge in the field - U IT target to offer the best solution on the market.

CSSF Reporting
CEDRS
General

CEDRS - General

CEDRS stands for "Central Electronic Data Retrieval System". This reporting was launched by the CSSF during the second part of 2020.

It's related to the CSSF Circular 20/747 and the law of 25 March 2020.

The objective is to establish a central electronic data retrieval system related to IBAN accounts and safe-deposit boxes. Entities falling under the scope of this new law are mainly the financial institutions.

This reporting has uncommon characteristics which can be summarized by :

  • Releasing a new Secure Chanel in Luxembourg, using the latest secured transmission technologies
  • Daily reporting (business days)
  • Gathering IBAN accounts and safe-deposit boxes owner(s) information
  • Tights delays for implementation
  • High size of reports (for important institutions)

Initially, the CSSF required a 7/7 days reporting, including week-ends and holidays. But rules were soften after 1 year of reporting, requesting to send the report only during business days.

U IT responded to this new requirement and developped its own solution composed of 2 elements : RGen CEDRS and SAPI CEDRS. Both modules share the following aspects :

  • 100% managed & operated under your own infrastructure
  • Direct transmission to the CSSF, no third party implied
  • Self-contained, communicate only with the CSSF, no data sent to U IT
  • By result of the previous points, propose the most secured method to ensure the confidentiality of the transmitted data but also keep a full hand on the processes
  • Reduced costs due to simplified complexity - small costs adpated for small entities
  • Local (Luxembourg) support, optional SLA Support

Consult the Timeline page for the most up-to-date information