ALCO is pleased to present an illustration of examples on an approach to identify the beneficial owner(s) in investment funds. Please click on this link to get a copy of the document.
This document has been prepared by a task force comprising representatives of ALCO, ALFI, LPEA and Lux Real.
It is to be noted that this document represents the views from members of the task force and is not binding on the associations, their members or on any authority in Luxembourg.
Furthermore it must be underlined that the ultimate responsibility of the beneficial owner identification rests with the board (i) of the fund, (ii) of the management company in case the fund is structured as an FCP, or (iii) of the general partner in case the fund is structured as a société en commandite simple, par actions or spéciale.
Please note that this paper does not take into account any tax considerations.
Enjoy your reading!
pleased to inform you that the German compliance manager association
("Berufsverband der Compliance Manager e.V. (BCM)" are holding their 7th
compliance conference on the 19th and 20th of November 2019 at the
Hotel Ellington in Berlin.
The conference programme and the registration form are available here.
We are pleased to inform you that
the ACFE Luxembourg Chapter have an upcoming event on 25 June 2019, from 5:30 pm to 7:30 pm, with the following speaker list:
- Mr. Max Braun, Head of the Luxembourg FIU
- Mr. Maxime Verac, Senior Manager, Risk Advisor at Deloitte in Forensics
- Mr. David Pedregosa, Senior Forensic Specialist, Arcelor Mittal; Board Member of the ACFE Luxembourg Chapter
- [..], Head of the EIB Forensic Unit (TBC)
The event will take place at the European Court of Justice, 12, rue Alcide de Gasperi, L-1615 Luxembourg.
Below a link to sign up to the event:
collaboration with its valued academic partners, the Chamber of Commerce
offers, through its vocational training institute ISEC, high level
programmes in vocational training.
Among the new features, there is a MBA 2 in Finance and Financial Instruments which will be launched in autumn 2019. This programme was developed in collaboration with ESLSCA Business School Paris,
whose expertise in this field is internationally recognized. Courses
will be given in the multi-university campus that the Chamber of
Commerce manages in its Training Centre, 7, rue Alcide de Gasperi in Kirchberg.
and discover the MBA 2 in Finance and Financial Instruments!
Information sessions will take place at the Training Center of the
Chamber of Commerce, 7, rue Alcide de Gasperi, L-1615 Luxembourg (free parking) at the following dates:
- 4th June from 5.45 pm to 6.45 pm
- 18th June from 5.45 pm to 6.45 pm
Registration on ISEC website
For more information on MBA 2 in Finance and Financial Instruments ESLSCA Business School Paris : Click here
On March 26th, the General Assembly of the
ALCO has elected its new directors, for the coming two years. Subsequently, the
new Board has met and decided to renew its confidence towards the previous
chairmanship. Therefore, Marie Bourlond, Laurent Moser and Vincent Salzinger
will continue to act as co-chairmen of the association. This will ensure a continuum
in the action plan which strongly focuses on the preparatory work for the
foreseen FATF visit. Recently, several events took place organised by the ALCO
on various AML topics and ALCO was associated to some others.
The Board of the association has also
nominated 5 advisors of the Board, Sophie Dupin, Emmanuelle Henniaux, Anne
Kayser, Cédric Leynon and Jean-Yves Litampha.
This communication is also the occasion to
repeat the permanent invitation to Compliance Officers operating in Luxembourg
to join the association and, for those already members, to join one of our
multiple working groups (details on the present website).
The International Bankers Forum (IBF) Luxembourg is pleased to invite you to their upcoming event which will take place on 24 April 2019 at Société Générale, 21, rue d'Epernay, from 6:00 pm to 9.00 pm.
Details about the event can be found here or on IBF's website.
To register, please send an email to email@example.com
The Association is organising a FIU conference which will take place on 23 April 2019 at the Coque, at 5:30 p.m.. Registration starts at 5:00 p.m.
Guest speakers will be Mr. Michel Turk, the new ML/TF National Coordinator and Head of the FATF Delegation to the Ministry of Justice, and Mr. Max Braun, the new FIU Director.
On 18 March 2019, in conjunction with ALFI,
ALCO and LPEA professional associations, the CSSF organizes an AML/CFT
conference dedicated to the fight against money laundering, terrorist
financing and proliferation financing in the Luxembourg Fund Industry at
the amphitheater of the "Maison du Savoir" in Belval, from 2:30 PM to
The conference will host
speakers from the CSSF specialized in AML/CFT topics in the Fund
Industry. They will provide feedback on the RBAC questionnaire campaign
performed in 2018 and will present key findings and expectations of the
AML/CFT prudential supervision measures. A panel of experts from the
Industry will also discuss current AML/CFT hot topics in the Luxembourg
Fund Industry. Finally, the FATF methodology which will be used to
evaluate Luxembourg in 2020 will also be described and explained.
We are pleased to inform you that the association's General Meeting will take place on Tuesday, 26 March 2019 at the Banque Internationale à Luxembourg S.A., 69, route d'Esch, L-1470 Luxembourg.
It will be followed by a conference dedicated to AML/CTF. Guest speakers will be Mr Claude Wampach, member of the CSSF Executive Board, and Mr Guilhem Ros, member of the CSSF UCI/on site inspections team.
sa réunion du 6 avril 2017, le Conseil d'Administration de l'ALCO a le
plaisir de vous informer de l'élection pour deux ans de Madame Marie Bourlond, Monsieur Laurent Moser, et Monsieur Vincent Salzinger
à la présidence de l'association. Cette présidence à trois têtes
traduit la volonté de l'association d'être dirigée de manière permanente
par des praticiens de la Compliance tout en permettant à ceux-ci de
faire face à leurs obligations quotidiennes grandissantes.
Following its meeting dated April 6, 2017, ALCO's Board of Directors is pleased to inform you of the 2 year nomination of Mrs. Marie Bourlond, Mr. Laurent Moser, and Mr. Vincent Salzinger as Chairs of the association.
shared Chair shows the will of the association to be permanently lead
by active Compliance Officers while still allowing them to face daily
obligations that are constantly increasing.
Communiqué : Nouvelle présidence / Statement: New Chairs
Voici un article de Paperjam qui nous rappelle que l'on attend toujours le projet de loi anti-blanchiment. Il y a notamment une intervention de Thierry Grosjean, notre président.
New AML/KYC measures recommended by CSSF following the tax reform that distinguishes three types of tax fraud: “simple” tax fraud, “aggravated” tax fraud, and tax evasion (“escroquerie fiscale”).
New Guidance - AML/CFT-related data and statistics
The Financial Intelligence Unit issued its 2014 report on 16/11/15.
The European Commission is considering a request for some delay on the reporting requirements due to come into effect under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR)
Switzerland's government on Wednesday adopted new rules to clamp down on money laundering as the country seeks to cast off its reputation as a haven for hidden cash