The CSSF circular 18/698 mirrors a lot of best practices already existing in the market but also introduces new requirements on the 'authorisation and organisation of Luxembourgish investment management companies; specific provisions on the fight against money laundering and terrorism financing applicable to investment fund managers and entities carrying out the function of registrar agent.
Our training covers each chapter of the circular in order to capture the main impacts of the requirements and support our participants in identifying the impacts of this circular on their organisation.
Duration: 4h
Language: Available in English
Number of participants: up to 15
Available as intra-company course (i.e. dedicated session on demand)
Objectives
By the end of this training, participants will be able to:
- determine the regulatory requirements introduced by the CSSF circular 18/698;
- understand in detail the impacts of the circular on the control of delegation, AML/KYC, risk management and valuation requirements.
Content
- Overview of the circular
- Impacts on the control of delegation
- Impacts on risk management and valuation
- Requirements on the control of the distribution network and AML/KYC
Target audience
- Chapter 15 ManCos
- Management companies incorporated under Luxembourg law subject to article 125-1 or article 125-2 of chapter 16 of the 2010 law ('chapter 16 ManCos')
- Luxembourg branches of IFMs subject to chapter 17 of the 2010 law ('chapter 17 ManCos')
- Self-managed management companies (SIAG)
- Authorised AIFMs under chapter 2 of the 2013 law
- Internally managed AIFs within the meaning of article 4(1)(b) of the 2013 law ('fonds d'investissement alternatifs gérés de manière interne' or 'FIAAG')
Our lead experts
This training is coordinated by Xavier Balthazar, Birgit Goldak and Benjamin Gauthier, Partners at PwC Luxembourg.
Xavier, Partner in charge of Regulatory Advisory, has substantial expertise in financial sector and funds’ regulations. He participated to many setups and restructurings of investments funds, management companies and professionals of the financial sector in Luxembourg and abroad.This includes defining their organisational structure, processes and procedures. He also serves as a regulatory compliance expert for depositary banks and fund administrations.
She coordinates AML services delivery with dedicated partners and their teams, each specialised in a specific field of this broad and complex topic.
Birgit, AML Services Leader, is specialised in the field of asset management and the various investment vehicles including alternative funds. As a recognised subject matter expert, she regularly provides dedicated training to the professionals of the asset management industry and is a keynote speaker on AML/CTF matters. She is a seasoned Boards of Directors trainer and has more than 20 years of international work experience in Luxembourg, UK, Canada and Germany.
Benjamin is a partner in the risk and regulatory team of PwC Luxembourg. He is playing an active role in the development of risk management practice for the asset management industry (including traded and non traded assets) considering both the regulatory requirements (i.e. UCITS IV, AIFMD) and best practices. He has led numerous risk management assignments including risk profiling and reporting.
