The number and types of transactions have increased exponentially
overtime, and it is clear that it is no longer possible to monitor them
with old tools or only through human monitoring. The sheer complexity of transactions and the ever-increasing regulatory requirements constitute important challenges for AML compliance.
this context, is crucial to have the right knowledge and tools to deal
effectively with these challenges. During this conference, CREOBIS
brings you the best experts in the field who will:
- Analyse the lessons learned from on-site inspections by the regulator
- Take a look at the impact of a Risk Based Approach
- Assist you in gaining the right knowledge on how technology helps you deal with false-positives and optimise alerts
- Learn the benefits of Third Party financial and non-financial risk monitoring
- Bring you the necessary understanding on how to monitor Cryptocurrency transactions
miss this unique opportunity to exchange with professionals and fellow
peers to have a clear understanding on how to deal with the complexity
of monitoring your transactions.
When: Tuesday, 26 November 2019
Where: Parc Hôtel Alvisse, 120, route d'Echternach, L-1453 Luxembourg
Time: from 9:15 am to 4:45 pm
Price: EUR 650 (excl. VAT), lunch included
If you wish to register, please click here.
ALCO is pleased to invite you to the presentation of its "First discussion paper on Blockchain and Crypto-Assets" (also available on the intranet under "Library-Document type 10: Working Groups' documentation).
The paper was prepared by a working group comprised of Compliance Officers and representatives of the industry and reflects the working group's understanding as of May 2019.
primary intention of this presentation is to assist Compliance Officers
in providing a deeper understanding of the Blockchain and the crypto
environment and to offer considerations when dealing with companies
and/or individuals active in Blockchain and Crypto-Assets.
WHEN: Monday, 21 October 2019
Chambre des Métiers, 2, Circuit de la Foire Internationale, L-1347
Luxembourg-Kirchberg (a limited number of parking spaces will be
available on-site - the closest public parking is at the Auchan shopping
TIME: From 5:30 pm to 9:00 PM
- 5:30 pm-6:00 pm: Registration
- 6:00 pm: Introduction by Emmanuelle Henniaux, Technical Advisor to the Board of ALCO
- 6:15 pm: Presentation by Biba Homsy, Chair of the working group
- 6:45 pm: Networking cocktail
If you wish to attend, please register by clicking here
. Deadline: 15 October 2019 COB
How to effectively manage large-scale inquiries?
It is increasingly common for a company to be the subject of an international inquiry commissioned by a regulator or a foreign authority.
investigations may for instance be linked to potential cases of
bribery, money laundering, tax evasion or non-compliance with financial
sanctions, but could also cover less obvious risks, such as an
overambitious employee who allegedly sold risky financial products to vulnerable persons, …
this context, how to best react when one is the subject of a judicial
inquiry or an international rogatory commission? What to do when the
prosecutor’s office enters your premises for a search or if foreign
authorities summon you directly?
answer these questions CREOBIS has gathered the best experts in the
field to share their experiences and bring you the right approach needed
from the very beginning of an investigation.
conference is for: Management Board, General Secretary, Head of legal,
Lawyer, Legal Counsel, Compliance Officer, Legal Advisor, Auditors, Risk
Managers, AMLCO, Conducting Officers, Avocats, Consultants, …
When: Tuesday, 8 October 2019
Where: Double Tree by Hilton, 12, rue Jean Engling, L-1466 Luxembourg
Time: from 8:30 am to 1:00 pm
Price: EUR 475 (excl. VAT)
Date: Wednesday, October 8th, 2019 starting at 18:00h
Venue: Société Générale Securities Services, 28-32, Place de la Gare, Bâtiment Plaza, L-1616 Luxembourg
The topics of this event:
- Impacts of Regulation, New business models & Digitalization
- UCITS and AIFs new segregation and safekeeping duties for depositaries. Depositary rules will change from 1 April 2020.
- New set up regarding flow of information between the depositary and the custodian or sub-custodian.
- Digitalization could enhance the user experience, thereby raising
the bar in terms of client expectation and forcing depositaries to
follow or be considered as obsolete.
- Technology is expected to significantly improve operational efficiency. This will would put pressure on productivity-management.
- New custody offers are emerging, also from major financial sector
players, on Crypto Assets. Could these spill-over to classic assets? How
can Depositaries prepare?
18h30: Panel Moderator Jean-Pierre Gomez, Société Générale Securities Services
- Sandra Müller, Managing Director, MEAG
- Enrico Turchi, Deputy CEO – Conducting Officer, Amundi
- Els Alwyn, Director, Nordic Capital
- Nicholas Curwen, Managing Director EQT Funds
- Frank Roessig, Head Digital Finance, Proximus Luxembourg
19h30: Networking drinks
The presentation will be held in English.
Participation is free of charge for IBF Luxembourg members. Non-members pay a fee of 30€
Please register at the latest until October 3rd, 2019 via mail to email@example.com.
Can we trace all crypto-assets? How does AML really apply to crypto-assets?
Exploring possibilities and challenges
the first time in Luxembourg, professionals and financial agencies,
from both Luxembourg and abroad, will share their vision of Anti-Money
Laundering Frameworks for crypto-assets and will explore the
possibilities and challenges of AML measures.
The conference will cover current practices, as well as sharing and exchanging thoughts on future frameworks.
When: 17 September 2019
Where: Luxembourg Chamber of Commerce, 7, rue Alcide de Gasperi, L-2981 Luxembourg
Registration via Eventbrite
The full program is available here.
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.
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 firstname.lastname@example.org
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