Aggregated News From Investment Management Regulators

CSSF LU

SFDR data collection exercise for investment fund managers (IFMs) on regulatory requirements in relation to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial...

1. Context This Communiqué follows up on the CSSF communiqué published on 27 July 2022 announcing the intention of the CSSF to launch a data collection exercise related to SFDR. The objective of the present Communiqué is to provide industry participants with information on the launch of the first part of this data collection, which mainly focuses on the collection of information regarding organisational arrangements of IFMs. SFDR requires IFMs that qualify as financial market participants (FMP(s)) and/or financial advisers (FA(s)) to comply with a set of rules regarding the integration of sustainability risks in their activities by 10 March 2021. SFDR also outlines...

2022 Thematic Review: STOR Obligations of IFMs

General findings and observations PDF (157.84Kb) This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Global situation of undertakings for collective investment at the end of December 2022

I. Overall situation As at 31 December 2022, the total net assets of undertakings for collective investment, comprising UCIs subject to the 2010 Law, specialised investment funds and SICARs, amounted to EUR 5,028.456 billion compared to EUR 5,166.373 billion as at 30 November 2022, i.e. a decrease of 2.67% over one month. Over the last twelve months, the volume of net assets decreased by 14.18%. The Luxembourg UCI industry thus registered a negative variation amounting to EUR 137.917 billion in December. This decrease represents the sum of positive net capital investments of EUR 7.654 billion (+0.15%) and of the negative development...

Administrative sanction of 30 November 2022

Administrative sanction imposed on the investment fund manager Pemberton Asset Management S.A. PDF (34.23Kb) PDF (33.4Kb) This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Warning issued by the UK authority (FCA) regarding the activities of an entity named Capital International Management Company/CIMC (clone of EEA authorised firm)

Link This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Warning concerning emails sent from the addresses firstname.s[email protected] and [email protected]

The CSSF warns the public of unknown persons who contact without solicitation potential investors and present themselves under the name “Fisher Investments Luxembourg” or “Fisher Investments Europe”. These persons offer investment services including, in particular, a savings account described as a “secured savings account with a guaranteed return of between 3.99% and 5.30%” (Livret sécurisé avec un rendement de 3,99% à 5,30% garanti). To this end, they misuse the name of the Luxembourg company Fisher Investments Luxembourg and send emails using the address format [email protected] and [email protected] The CSSF would like to specify that the investment firm Fisher Investments Luxembourg,...

Circular CSSF 23/829

on the application of the Guidelines on the criteria for the exemption of investment firms from liquidity requirements in accordance with Article 43(4) of Regulation (EU) 2019/2033 (EBA/GL/2022/10) PDF (159.77Kb) This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Communication on the publication of two notification templates to be completed when applying for the authorisation of an IFM to the CSSF, respectively when...

Communication on the publication of two notification templates to be completed when applying for the authorisation of an IFM to the CSSF, respectively when extending the activities of an existing IFM or modifying its shareholding structure. The CSSF published two notification templates entitled “Authorised investment fund managers (“IFMs”) – type(s) of requested authorisation(s)” and ”Authorised investment fund managers (“IFMs”) – type(s) of requested change(s)” to be used with immediate effect when: a new application for IFM authorisation subject to the Law of 17 December 2010 relating to undertakings for collective investment, to the Law of 12 July 2013 on alternative...

Fake police scam

The CSSF wishes to relay a communication from the Grand-Ducal Police relating to scams carried out by fake police officers. The police have observed for several weeks that people speaking German pose as police officers or collaborators of the Luxembourg court in order to extract money from potential victims. The scam generally takes place in the following way: fake police officers or court collaborators contact their future victims, often people of a certain age, by telephone, claiming that a member of the latter's family would have been involved in a serious accident and is currently in detention. The crooks then ask these people to...

AML/CFT controls applied to TCSP activities by certain IFMs

In July 2020 the CSSF published a money laundering/ terrorist financing (“ML/TF”) sub-sector risk assessment regarding the specialised professionals of the financial sector providing corporate services – Trust and Company Service Provider (“TCSP”) activities. The results of the sub-sector risk assessment indicate an inherent high risk and a residual medium risk for the activity. Although the risk assessment remains focused on one category of professionals of the financial sector, its findings are judged pertinent also for understanding the ML/TF risk of TCSP activities conducted by other professional such as investment fund managers (“IFMs”), albeit being ancillary to their main...

Warning regarding the activities of an entity named Alphanis

The CSSF warns the public of the website https://www.alphanis.org where an unknown entity offers investment and cryptocurrency services under the name “Alphanis” and pretends to be established at “4 Rue Albert Borschette, 1246 Luxembourg”. The CSSF informs the public that an entity named “Alphanis” is unknown to it, that it is not supervised by the CSSF and that it has not been granted any authorisation to provide investment services or other financial services in or from Luxembourg. This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Warning concerning the website www.befinance.zd.fr and a fraud scheme misusing the identity of the company Belenus Finance S.A. incorporated under Luxembourg law

The CSSF warns the public of the website www.befinance.zd.fr and the “facebook”-type page named “Belenus Finance” where unknown persons offer online banking services, especially loans, by misusing the name and contact details of the company Belenus Finance S.A. incorporated under Luxembourg law. The CSSF would like to specify that the company Belenus Finance S.A., incorporated under Luxembourg law, is not related in any way with the facts referred to in this warning. This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Regulator Information

Abbreviation: CSSF
Jurisdiction: Luxembourg

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