CSSF to accept financial crime data via API for a first time
Luxembourg’s financial supervisor CSSF on Wednesday announced 1 April as the deadline for its 2023 annual financial crime survey, an effort in which it collects data concerning money laundering and terrorism financing. Data collection will begin on 19 February, it said.
Efama DG calls for reframing discourse on retail investments
The current approach to the EU’s retail investment strategy may not adequately address broader issues such as the retirement savings gap, reflecting a need for a more holistic approach to financial education and pension policies, a leading European industry representative argues.
‘Reward your customer for active cooperation in KYC’
Banks are making some progress when it comes to KYC processes by bridging regulatory expectations and client cooperation challenges.
Dutch pension funds grapple with high private equity fees
Dutch pension funds are striving to address concerns about the high performance fees they pay to private equity funds by increasing accountability and explaining the dilemmas and choices surrounding these investments.
Esma makes cyber risk top EU supervisory priority for 2025
The European Securities and Markets Authority, or Esma, on Thursday announced that from 2025, cyber risk and digital resilience in Europe’s securities sector will take precedence alongside ESG reporting in terms of overarching priorities for the supervisors in EU member states.
Luxembourg’s FIU grapples with spike in AML reports
Luxembourg, a hub for global finance, has seen a significant uptick in alerts on questionable transactions that could signal money laundering or even finance terrorism.
‘Private credit will eclipse equity in the next decade’
Despite rapid development, private credit is still in its very early growth stages. Despite macroeconomic and cyclical challenges, Jiři Król, the deputy CEO of the Alternative Investment Management Association, sees private credit catching up to the much larger private equity in the next 10 years. He also sees huge potential development from the reformed European long-term investment fund vehicle (Eltif).
‘It is time to establish a global tax on the very rich’
Over the past decade, government initiatives have significantly curbed international tax evasion. However, the real impact of these measures remains a subject of debate. A new report now calls for a global minimum tax for the world’s ultra-rich.
Investment fund costs swing widely, Fitz data shows
Investment fund costs for both retail investors and institutions have become more volatile in 2022, according to data analysed by London-based Fitz Partners.
About one third - or 35 percent - of funds whose fees were changed last year have witnessed an increase in their charges to investors, with institutional equity funds leading the charge, according to data on around 40,000 fund share classes analysed by Fitz.
I do not regret that my crypto investments lost money
It was 2020, and there were countless stories of young investors becoming millionaires overnight by investing in cryptocurrencies like Bitcoin. I didn’t want to miss out, so I decided to invest a modest amount of 2500 euros.
Curiosity
The possibility of becoming a millionaire was enticing, but I also saw this as a way to educate myself about a ‘new’ concept called blockchain. This technology was the foundation of cryptocurrencies and was set to transform countless industries.