Investment Officer Luxembourg

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.

The European Council and the European Parliament on Thursday reached a preliminary agreement on a new European directive mandating corporate social responsibility for large companies, but that will, following lobby pressure, exclude the financial sector.

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?

Europe’s top supervisory body for the insurance sector on Thursday launched a new climate disaster data initiative that will help supervisors, the industry and policy makers better understand insurance exposures and losses from climate and nature related catastrophes.

It’s called the Catastrophe Data Hub. The European Insurance and Occupational Pensions Authority, known as Eiopa, said the hub is an open-source collection of catastrophe risk data at European level.  

This week’s overview of transfers, appointments, promotions and other people news includes updates from DWS and Candriam.

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.

Luxembourg-headquartered asset manager Candriam on Wednesday announced the launch of a new alternative investments platform as a response to growing demand for diverse alternative investment solutions in today’s market environment.