The Luxembourg Financial Connection - Issue 12
The Luxembourg Financial Connection is compiled for our clients and friends in the financial services industry to keep them updated on regulatory, leading practice and market developments from a Luxembourg perspective.
The articles in the 12th issue:
• Highlight the new opportunities, but also challenges, for the asset management industry under UCITS IV
• Outline the proposed Alternative Investment Fund Managers (AIFM) Directive, issues raised by the proposal and what it may mean for Luxembourg
• Discuss what AIFM may mean for real estate and private equity
• Provide insight into Article 26 of the OECD Model Tax Convention and what it means
The essential news items include:
Luxembourg
• CSSF clarification of UCITS borrowing principles
• Fast-track procedure for authorization of a side pocket
• CSSF and BCL Circulars on liquidity risk
• BCL Circular on securitization vehicles
• Clarification from Luxembourg VAT Authorities on application of VAT Package rules
European Union
• European Commission recommendations and CEBS high-level principles on remuneration
• Commission consultation on UCITS custodian function
• Changes to Capital Requirements Directive (CRD)
• CEBS consultation paper on high-level principles for risk management
• CEBS consultation paper on liquidity buffers and survival periods
• CEBS high-level principles for remuneration policies
• EU proposed measures to strengthen safety of derivatives markets
• CESR consultation on pan-European short selling disclosure regime
• EU Regulation on credit rating agencies
International
• AIMA sound practices for funds of hedge funds managers
• IOSCO consultation report on hedge funds oversight
• IOSCO good practices in due diligence for structured finance investments
• BIS enhancements to Basel II framework
• IASB exposure draft on fair value measurement
... and much more ...
Download our latest issue (
489 kb) (September 2009) .
Luxembourg Financial Connection - Issue 12