Banque Havilland’s demise opens old wounds in Luxembourg
Banque Havilland, once a discreet player in the European private banking sector, is now caught in a severe regulatory storm. This case has also reignited old tensions related to the 2009 sale of Icelandic bank Kaupthing’s Luxembourg unit to the Rowland family, the financiers behind Banque Havilland.
Regulators push Banque Havilland out of business in Europe
Banque Havilland, a Luxembourg-headquartered private bank controlled by Prince Andrew’s longtime financial adviser David Rowland, has effectively been put out of business in Europe following a coordinated clamp-down by EU regulators amid persistent governance and money laundering issues.
Les derniers partisans du scénario de zéro réduction des taux cèdent au sentiment du marché
Selon le marché, une baisse des taux d’intérêt américains en septembre est désormais acquise. D’éminents opposants à une politique plus souple en matière de taux d’intérêt s’inclinent.
CSSF fines BNP Paribas €3 mln for money laundering lapses
The CSSF has fined BGL BNP Paribas three million euro for significant lapses in its anti-money laundering and counter-terrorist financing compliance. It’s the second-largest fine ever imposed for AML failings in Luxembourg.
Luxembourg banks struggling with compliance, AML
Luxembourg’s banking sector, once heralded for its stability and strong governance, is now grappling with substantial hurdles in adhering to anti-money laundering (AML) regulations, a new consultancy report reveals.
CSSF confirms Amundi’s Nvidia holdings within legal limits
Luxembourg financial regulator CSSF has confirmed that the 34.49 percent holding in Nvidia by an Amundi fund does not constitute a breach of the 2010 law on undertakings for collective investment, which caps Ucits investments in most individual stocks at 10 percent.
ESG funds brace for $40 bln outflow as new EU rules loom
Investors in European ESG funds could be in for a rude awakening as new guidelines from the European Securities and Markets Authority (Esma) threaten to upend the industry, according to Morningstar.
CSSF reprimands three investment fund managers for AML failures
The CSSF has reprimanded three investment fund managers for failing to comply with anti-money laundering requirements.
‘We will never succeed if we don't bring it together in a genuinely European context’
Transcript of the interview with Esma Chair Verena Ross.
L’écoblanchiment toujours impuni dans le secteur financier européen
Contrairement aux États-Unis et à l’Australie, l’écoblanchiment reste impuni dans le secteur européen de l’investissement, bien que la législation actuelle permette aux régulateurs nationaux de sévir contre les entreprises qui trompent les investisseurs. La plupart des régulateurs de l’UE ne disposent pas de moyens suffisants pour prendre des mesures concrètes.