DORA Explained: ICT Third-Party Risk Management Strategy (Part 3)

If you enjoy reading our articles and want to support our mission of sharing valuable insights on AML and investment funds, the easiest way to help is by subscribing to our Fundiligence newsletter. For us it is very important, for you it is FREE. Managing ICT Third-Party Risk under DORA The strategy for managing ICT third-party risk under DORA includes a policy specifically designed for … Continue reading DORA Explained: ICT Third-Party Risk Management Strategy (Part 3)

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DORA explained: Role of Compliance Officers in Managing ICT Third-Party Risks (Part 2)

If you enjoy reading our articles and want to support our mission of sharing valuable insights on AML and investment funds, the easiest way to help is by subscribing to our Fundiligence newsletter. For us it is very important, for you it is FREE. This article follows the discussion from the previous one: Principles of Proportionality and Due Diligence Process, where the principles of the … Continue reading DORA explained: Role of Compliance Officers in Managing ICT Third-Party Risks (Part 2)

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ESMA’s Opinion on Broker Models Under MiCA: Impact for Crypto-Asset Service Providers

If you enjoy reading our articles and want to support our mission of sharing valuable insights on AML and investment funds, the easiest way to help is by subscribing to our Fundiligence newsletter. For us it is very important, for you it is FREE. On the 31st of July, 2024, the European Securities and Markets Authority (ESMA) released an opinion concerning the application and enforcement … Continue reading ESMA’s Opinion on Broker Models Under MiCA: Impact for Crypto-Asset Service Providers

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DORA explained: Principles of Proportionality and Due Diligence process (Part 1)

If you enjoy reading our articles and want to support our mission of sharing valuable insights on AML and investment funds, the easiest way to help is by subscribing to our Fundiligence newsletter. For us it is very important, for you it is FREE. The Digital Operational Resilience Act, adopted by the European Union in December 2021, requires full implementation by January 17, 2025. Developed … Continue reading DORA explained: Principles of Proportionality and Due Diligence process (Part 1)

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6th AML/CTF Directive: Challenges and Implications for European Football Clubs

The recent introduction of the AML 6 Directive by the European Union marks a significant step towards combating money laundering and terrorist financing within various industries, including professional football. Football clubs fall under the scope of the AML 6 Directive, which mandates that all clubs must comply with stringent AML regulations unless exempted based on specific risk assessments and financial thresholds. This article analyses the current situation and future developments, examining how the application of the AML 6 Directive affects football clubs of varying sizes and the the implications for financial integrity in the sport. Continue reading 6th AML/CTF Directive: Challenges and Implications for European Football Clubs

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Third-Party ManCos: Oversight and Independency in Fund Management and future scenarios

In the fund sector, the use of third-party ManCos is increasing, a trend expected to continue in the coming years. Over the past three years, the escalation of costs, regulatory fees, and stringent substance requirements have made more asset managers consider leaving the ManCo business and relying on third-party ManCos. This article examines why relying on third-party ManCos can be a benefit for leader asset managers and fund sector itself, by improving investor protection, introducing an additional layer of oversight and minimize potential conflicts of interest. Continue reading Third-Party ManCos: Oversight and Independency in Fund Management and future scenarios

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Between Innovation and Protection: CSSF’s Approach to Digital Asset Investments

The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has released an update on the FAQ Virtual Assets – Undertakings for collective investment in relation to the UCIs investing directly or indirectly in virtual assets and has once again demonstrated its commitment to maintain a balanced and progressive regulatory environment. With its latest guidelines, the CSSF has drawn a clear line between the investment capabilities of Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds. Continue reading Between Innovation and Protection: CSSF’s Approach to Digital Asset Investments

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Choosing the right AML/KYC Software: Key Considerations and Factors to assess before the adoption of a tool

AML/KYC software tools represent today a pillar of the elements in the fight against financial crimes and the adoption of sophisticated AML/KYC technologies has become indispensable, both for larger and smaller financial institution. This article analyses the aspects to consider when consider the adoption of a AML/KYC software tool, whether to buy or to acquire the rights of use. Continue reading Choosing the right AML/KYC Software: Key Considerations and Factors to assess before the adoption of a tool

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Responsable du respect des obligations (RR): considerations on the current framework, weaknesses and potential future changes

Is the role of the Responsable du respect des obligations (RR) truly effective in its day-to-day execution within the existing framework? Should the RR function be assigned to a sole individual or collectively to the Board members? This article analyzes the current structure of the Board on Investment Funds in Luxembourg, understanding how the RR function is currently managed, where the board individually or collectively holds the function of RR, identifies its inherent weaknesses, and explores potential future developments. Continue reading Responsable du respect des obligations (RR): considerations on the current framework, weaknesses and potential future changes

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DORA Act: Implications for Luxembourg’s Investment Fund Managers on delegation to third-parties

This article analyses the future impact of this regulatory development for Alternative Investment Fund Managers (AIFMs) in Luxembourg and the necessary controls and challenges for AIFMS and compliance officers are likely to face. This regulation requires AIFMs to evaluate and manage the digital operational risks associated with their activities and those of their service providers and delegates. Continue reading DORA Act: Implications for Luxembourg’s Investment Fund Managers on delegation to third-parties

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