Supervision

Luxembourg’s financial regulator CSSF has updated its guidance for the crypto investment landscape, clarifying that only ‘well-informed investors’ within alternative investment funds can tread into the virtual asset territory.

In the pursuit of an inclusive and engaging workplace, the European Central Bank (ECB) emphasises respect, talent development, and diversity, as per its official website. However, recent remarks from ECB board member Frank Elderson and President Christine Lagarde have sparked concerns and raised questions about the bank’s commitment to diversity of opinion.

Europe’s top financial supervisory authority is warning investors of a high risk of corrections in financial markets, especially in difficult-to-value private markets such as real estate. 

The U.S. Securities and Exchange Commission (SEC) in 2023 continued to demand significant recoveries from financial institutions, although investment advisers were less frequently targeted. The year also witnessed the introduction of fines related to WhatsApp use and a record payout to whistleblowers.

Luxembourg’s financial supervisor CSSF is ready to conditionally give its green light for new applications of Eltif 2.0 funds, even as the market still awaits a final adoption of the regulatory and technical standards, known as the RTS, by the European Commission.

As the clock ticks down to the much-anticipated launch of the revamped EU regime for European Long-Term Investment Funds (Eltifs), the private markets world is abuzz with anticipation and a dash of uncertainty.

Luxembourg last year remained among the most expensive domiciles for investment funds in Europe in all three investment categories, according to a research report released on Monday by the European Securities and Markets Authority, Esma.

Ireland has joined Luxembourg on a supervisory drive to push the financial industry to improve their asset valuation processes for investment funds. 

The Central Bank of Ireland has given fund managers in Dublin until the end of the second quarter next year to complete reviewing and upgrading where necessary their internal governance for fund valuations. A letter to the industry, published on Thursday, has defined four action points that need to be addressed at Board level.

Political pressure is mounting on the Securities and Exchange Commission (SEC) over its efforts on climate reporting and Environmental, Social, and Governance (ESG). With the recent delay in final regulations, the question arises: Is the SEC bowing to pressure from critics?

Luxembourg’s financial markets authority CSSF has given fund management companies until the end of this year to review the way they determine the value of their investment funds. Investment Officer recently spoke to Marco Zwick, the CSSF director in charge of supervising investment funds. “We noted some room for improvement,” he said.