NAVIGATING EVOLVING REGULATION IN LUXEMBOURG’S INVESTMENT FUND SECTOR
R&C: Could you provide an overview of the key regulatory developments affecting Luxembourg’s investment fund sector in recent years?
Niehl: There have been a number of key European Union (EU) directives and regulations affecting Luxembourg’s investment fund sector in recent years. They cover various areas. One area of focus has been on preventing the use of the financial system for the purposes of money laundering or terrorist financing. A second area of focus has been on taxonomy and sustainability‐related disclosures in the financial services sector. A third area of focus has been the amendment of the European Markets Infrastructure Regulation, often referred to as ‘EMIR Refit’. A fourth area of focus has been on cross-border distribution of collective investment undertakings. A fifth area of focus has been on protecting natural persons with regard to the processing of personal data and on the free movement of such data. Lastly, there has been regulation on key information documents for packaged retail and insurance-based investment products, which can apply to regulated and unregulated entities.
Apr-Jun 2023 Issue
Charles Russell Speechlys SCS