Tag: compliance

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ESMA and the future of EU supervision: Why Europe should build on the CSSF model, not replace it

The European Commission is preparing a proposal to expand central supervision over Europe’s key financial markets, including stock exchanges, clearing houses, and crypto exchanges. The initiative, expected to form part of December’s “Markets Integration Package,” aims to reinforce Europe’s competitiveness and reduce fragmentation across its capital markets.

Europe’s markets are often described as fragmented, with many national regulators and hundreds of trading and post-trading entities. A single EU supervisor, similar to the U.S. Securities and Exchange Commission (SEC), seems the solution to bring more uniformity and global weight. Continue reading ESMA and the future of EU supervision: Why Europe should build on the CSSF model, not replace it

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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: 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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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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