Esma faces uphill battle to emerge as European SEC
In an interview with Investment Officer, Esma chair Verena Ross outlined her vision and the significant challenges ahead as the regulatory body aims to become Europe’s equivalent to the US SEC.
CSSF presses fund managers to tighten ESG disclosures
The CSSF has ordered all Luxembourg-based investment fund managers to review and, if necessary, correct their sustainability risk policies and disclosures, following a Europe-wide supervisory exercise that found compliance broadly satisfactory but still in need of significant improvement. The order also applies to managers of so-called Article 6 funds, which do not claim ESG characteristics.
Fed independence questioned as Bessent is floated as Powell successor
Scott Bessent, the U.S. Treasury Secretary and key architect of President Trump’s economic agenda, is being discussed as a potential successor to Federal Reserve Chair Jerome Powell. Bloomberg cited anonymous sources saying his name has been floated for the role.
CSSF flags persistent AML gaps at investment firms
Anti-money laundering compliance has become a defining test for Luxembourg’s investment sector. At a closed-door AML/CFT conference on 28 March, the CSSF warned of persistent governance gaps, just as EU reforms raise the bar for compliance.
Private debt under scrutiny as market complexity grows
Private debt continues to expand in Luxembourg, but regulators, fund managers and legal experts warn that the market is becoming harder to navigate
Supervisory gaps threaten cross-border access to private markets
ESMA has asked the European Commission to clarify Eltif 2.0 implementation rules, as inconsistent supervision across member states risks delaying investor access to semi-liquid private market funds.
Luxembourg raises red flag over EU plan for single supervisor
Luxembourg, which hosts more than a quarter of all assets held in European investment funds, has raised a red flag over fresh European Commission plans to create a single supervisor for financial services.
Funds Avenue, Trustmoore assert no major weaknesses after €700k CSSF fine
The latest in a series of hefty fines levied by financial regulator the CSSF has fallen on a fund manager with strong links to the Fuchs & Associés saga, featuring millions in fines for financial malfeasance.
EU’s big talk on investments union still raises many questions
The European Commission has set out yet another grand vision for Europe’s capital markets. Behind the lofty rhetoric, the plan leaves a familiar set of unresolved questions.
NRF: The first SFDR compliance related CSSF administrative sanction
Luxembourg’s CSSF has issued its first SFDR compliance sanction, marking a shift to enforcement. Asset managers, take note—ESG disclosures must be accurate, clear, and aligned with investment policies, write Claire Guilbert and Cyril Clugnac at Norton Rose Fulbright.