Secteur

Transcript of the interview with Esma Chair Verena Ross.

Dans une décision aux répercussions potentiellement considérables pour le marché du crédit privé, un tribunal américain a porté un coup sévère aux efforts de la Securities and Exchange Commission (SEC) visant à améliorer la transparence et la surveillance de l’industrie des fonds privés, qui pèse 27 000 milliards de dollars. Pour l’instant, l’industrie des fonds privés peut pousser un soupir de soulagement.

Unlike in the United States and Australia, greenwashing in Europe’s financial sector remains largely unpunished, even though existing legislation allows national regulators to take action against firms that mislead investors.

Amid a surge in global wealth, Luxembourg is bolstering its efforts to retain its edge over Ireland as the premier European hub for American asset distribution. The country’s recent strategic push, highlighted by high-profile events in Boston and New York, aims to capitalise on the surge in alternative financing strategies.

Luxembourg bankers› association ABBL on Friday said the sector is ready to accommodate clients affected by ING Luxembourg’s recent decision to cease its retail banking services. This strategic withdrawal has left thousands of customers in a state of uncertainty, prompting a response from the ABBL and other local retail banks to ensure a smooth transition for impacted clients.

Artificial intelligence (AI) is reshaping the financial landscape with promises of efficiency, innovation, and superior decision-making capabilities. However, as the European Securities and Markets Authority (Esma) warned this week, the integration of AI in investment services comes with significant risks. Like a double-edged sword, AI›s greatest strengths can become its most dangerous liabilities if not handled with care.

Banks and asset managers continue to make misleading sustainability claims, according to the European Securities and Markets Authority, Esma. Following an investigation into the compliance of marketing communications with MiFID II rules, Esma found that financial products and services are often presented as green without substantiating the sustainability claims.

This week’s overview of transfers, appointments, promotions and other people news includes updates from Universal Investment, Gen II Fund Services, Deloitte and JP Morgan.

British-American multinational insurance services provider Willis Towers Watson (WTW) is preparing to launch its first Luxembourg-based private equity fund in the coming months. The firm has already has secured over 500 million euro in commitments. The move follows WTW›s recent announcement of a UK private equity fund.

In an unstable investment environment with wars and crises looming worldwide, contradictory inflation data as well as insecurity regarding interest rate development, alternative investments have evolved into a diversifying and stabilising element of institutional portfolios – and will continue to do so.