Focus on CSSF Circular 18/698
The CSSF Circular 18/698, entered into force on 23 August 2018, mirrors a lot of best practices already existing in the market but also introduces new requirements on the “authorization and organization 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.
4 November 2020 (ENG) - Webinar format - 10am-12pm
24 February 2021 (ENG) - Webinar format - 10am-12pm
27 May 2021 (ENG) - 2pm-6pm
Price:
Classroom based: 650.00 €
Webinar: 300 €
Duration:
Classroom based: 4h
Webinar: 2h
Language: English
Number of participants: 20
Objectives
By the end of this training, the participants will be able to:
- Determine the new regulatory requirements introduced by the circular CSSF 18/698;
- Understand in the details the impacts of the new circular on control of delegation, AML/KYC, risk management & valuation requirements.
Content
- An overview of the new circular;
- Impacts on control of delegation;
- Impacts on risk management and valuation;
- New requirements on 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");
- SIAG;
- Authorised AIFMs under Chapter 2 of the 2013 Law; and
- 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
Xavier Balthazar is a Partner in the regulatory practice in PwC Luxembourg, with substantial expertise in financial sector and funds’ regulations.
He participated to many set ups and restructurings of investments funds, management companies and professionals of the financial sector in Luxembourg and abroad, including the definition of their organisation, processes and procedures.
He is also a regulatory compliance expert for depositary banks and fund administrations.
Birgit Goldak is a PwC Risk Assurance Partner focused on the asset management industry, including real assets. She leads the AML Services for Asset and Wealth Management and runs the distribution due diligence service. She is also Leader of the PwC Performance Assurance (Internal Controls) Practice. She is a recognized subject matter expert and regularly advises her clients in both areas. Birgit regularly provides dedicated training to her clients and speaks as conferences. She has 20 years of international work experience and has worked in Luxembourg, UK and Canada and Germany.
Benjamin Gauthier is Partner in the Consulting FS 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 AM 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 for Private Equity structures.
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