Lois et réglementation

The recently enacted NPL law in Luxembourg brings critical updates to credit servicing and purchasing, writes Sebastiaan Hooghiemstra at Loyens & Loeff Luxembourg in their latest contribution as member of Investment Officer’s panel of experts.

Plans to increase Europe’s capital markets capacity hinge on giving retail investors access to private assets, but liquidity remains a sticking point. Evergreen funds, designed to offer investors some liquidity in otherwise illiquid assets, are being touted as a solution.

Martine Solovieff, procureure générale du Luxembourg, exprime ses inquiétudes face aux difficultés persistantes du pays dans la lutte contre la criminalité financière, pointant comme obstacles majeurs la surcharge de dossiers et le manque de personnel.

La plateforme Impact Finance Belgium appelle le gouvernement à développer un nouveau type de fonds destiné aux investisseurs particuliers, afin que davantage d’épargne puisse être mobilisée pour des projets écologiques ou sociaux.

In a move to strengthen valuation practices across the investment fund industry, Luxembourg’s financial supervisor CSSF on Wednesday unveiled a glimpse of plans to revise its valuation guidelines for investment fund managers. The update is due in 2025.

Pour la première fois en vingt ans, le Luxembourg se dote de règles plus rigoureuses pour l’évaluation des fonds d’investissement. La tolérance aux erreurs dans le calcul de la valeur des fonds monétaires sera abaissée, et des contrôles plus stricts seront imposés avant (« ex ante ») toute décision d’investissement.

Luxembourg’s financial regulator has issued a relatively small fine for a class of transgression with huge implications for the industry: valuations of funds, in particular for unlisted alternative investments.

Luxembourg’s financial watchdog, the CSSF, has made important changes to its rules for valuations of investment funds, the first in two decades. While many things stay the same, some key updates—like lowering limits for money market funds and adding new checks before making investment decisions—are aimed at tightening control and providing clearer guidance.

Former Portuguese finance minister and Morgan Stanley banker Maria Luís Albuquerque, known for her austerity-heavy tenure during the eurozone crisis, is now the European Commission’s nominee for the influential role of Commissioner for Financial Services. Her appointment has already ignited controversy.

JP Morgan and State Street have reinforced their dominance in Luxembourg’s fund industry, according to the latest Monterey Insights Luxembourg Fund Report 2024.