Regulatory Alerts2018-08-23
Added · Updated
Circular CSSF 18/698: Authorization and Organization of Luxembourg Investment Fund Managers and AML/CFT Provisions
This circular replaces Circular CSSF 12/546 to specify the conditions for obtaining and maintaining authorization for investment fund managers (IFMs), including management companies, SIAGs, and FIAAGs. It establishes requirements for shareholding structures, minimum own funds, administrative bodies, senior management, and internal governance arrangements. The document also sets out rules for the permanent risk management, compliance, and internal audit functions, as well as specific provisions on the fight against money laundering and terrorist financing. Circulars CSSF 04/155 and IML 98/143 are no longer applicable to IFMs.
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