Raymond Frenken

Luxembourg is heading to the polls on Sunday. The outcome is anticipated to reaffirm the Grand Duchy’s status as an international financial centre rooted in political stability. Two issues, however, stand out: talents and taxes.

The sustainable finance sector has faced a whirlwind over the past two years, and the storm shows no sign of abating soon. From greenwashing scandals and SFDR downgrades to unreliable ESG data and politicised debates in the US, the landscape is ever-evolving, almost on a daily basis.

Securities supervisors worldwide are looking to coordinate and align their approaches to greenwashing in the investment industry, it became clear on Monday during a panel debate hosted by Iosco, the Madrid-based body that brings together securities regulators from across the world. The debate marked the start of Iosco’s seventh World Investor Week.

Interest in sustainable investment is surging but it’s doing very little to keep climate change in check, a new Morningstar report says.

BLI - Banque de Luxembourg Investments (BLI) and Funds For Good on Friday unveiled two new joint impact funds; the FFG European Impact Equities and FFG American Impact Equities. Classified as Article 9 under the EU’s Sustainable Financial Disclosure Regulation, the funds build on a decade-old collaborative partnership between the firms.

Luxembourg needs to make a bigger effort to supervise the non-financial sector and better scrutinize real estate firms, trust companies, notaries and services firms, the world’s top body to fight money laundering and the financing of terrorism said on Wednesday.  Both the Luxembourg government and financial sector supervisor CSSF issued statements underling the FATF report’s “overall good result” for Luxembourg.

In this IO Talks podcast interview, Peter Hughes, CEO and founder of Apex Group, and Pierre Weimerskirch, the firm’s Luxembourg head, discussed strategic ambitions in Luxembourg, highlighting the region’s increasing dominance in the global investment landscape.

Luxembourg-based fund services firm Fuchs Asset Management, which saw its parent company enter liquidation in July, is embarking on a new chapter through a strategic partnership with Trustmoore, a fund services company headquartered in Amsterdam.

Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) announced on Monday that Marco Zwick’s mandate as the director in charge of supervising investment funds has been renewed for an additional five years, effective from September 1, 2023. Zwick has been serving in this role since 2018. CSSF meanwhile also said that a decision on the renewal of the mandate for its chief bank supervisor, Claude Wampach, was made in July per royal decree.

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