Focus on CSSF circular 18/698

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 proposes to cover 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.

Price: 820.00 €

Duration: 4h

Language: Available in English

Number of participants: up to 20

You are interested in participating in this course but no sessions are currently scheduled? Please contact us and you will be added to our Show Interest list.

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Objectives

By the end of this training, the 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.

Birgit is partner and leader in the PwC Luxembourg AML services practice. Her expertise focuses on asset management and alternative fund industries. As a recognised subject matter expert, she regularly provides dedicated training to her clients and speaks at conferences. She has more than 20 years of international work experience and has worked in Luxembourg, UK and Canada and Germany.

​Benjamin is partner in the risk and regulatory team of PwC Luxembourg where he is playing an active role in the development of risk management practice for the asset management industry.

He is expert in risk management 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 participated and led numerous risk management assignments including risk profiling and risk reporting.

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Contact details

PwC's Academy, Crystal Park Building, PwC Luxembourg

Tel: +352 49 48 48 4040

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