Luxembourg

fund conference german

Blühende Landschaften

Die alljährliche Investmentfondskonferenz, zu der KPMG Partner Walter Koob die deutschsprachige Investmentfonds-Community in Luxemburg geladen hat, stand – wie Managing Partner Georges Bock in seiner Eröffnungsrede darlegte – eigentlich unter einem guten Stern. Getrübt wurde die Freude über das nachhaltige Erreichen der 3 Billionen Euro Marke der in Luxemburg domizilierten Nettovermögenswerte jedoch durch die Botschaft des Ausscheidens Walter Koobs zum Jahresende, dessen sprichwörtlich große Fußstapfen lediglich Charles Muller auszufüllen in der Lage sei.

Automatic exchange of information

Automatic exchange of information, this time it is (really) for tomorrow

On November 13, Frank Stoltz (Partner) and I had the honor of being invited by the Association des Compagnies d’Assurance et de Réassurance (“ACA”) to speak about the last development on the constantly evolving topic of automatic exchange of information (“AEoI”) at the occasion of the successful ACA Insurance day 2014.

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Like the frog in the boiling water

With massively disrupting trends changing our daily habits in this digital era, many market participants and observers alike wonder whether the financial sector is quick enough to adapt to changing distribution and business models. “Will Facebook soon run a bank – or be owned by a bank?” was only one of the mind-boggling questions raised to a panel of experts, organised by the British Chamber of Commerce in Luxembourg, moderated by Jim Kent and titled “Fund Distribution in a Digital Age”.

AIFMD-10-000

10,000 AIFMD reports – powered by AIFMD Racer

We did it! This was the week where we finally submitted the first round of AIFMD reports prepared for clients with our own hands. Well, not hands, but rather a veritable mean-machine of IT and man (and brain) power – the AIFMD racer. The 2,500 reports released yesterday form just a quarter of the 10,000 set to be produced by KPMG Luxembourg this year alone.

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Is my SOPARFI FATCA compliant?

While the next steps for FATCA are generally becoming clearer – with the help of industry guidance – the situation for SOPARFIs is a little different. Interpretations on how to classify this type of company vary greatly according to country.

Luxembourg

Georges Bock: What could be of concern when it comes to the automatic exchange of information?

Luxembourg hit the headlines earlier this month, when a timeline was agreed with the EU for rolling out the automatic exchange of banking and fiscal data in Europe. In essence, this will bring the exchange of financial information within Europe up to a similar level as between Europe and the US under FATCA.

The Godzillas of technology: Three-D printing, Internet of Things and Biotech healthcare


When mobile and cloud technologies burst their way into the boardroom and then the workplace, the trail of business disruption left behind reached Godzilla-like levels. According to business leaders, technology-driven shocks to business models are only set to continue in the future. A KPMG survey has identified Three-D printing, Internet of Things and Biotech healthcare as likely to cause high levels of disruption in the next 3 years.

AIFMD deadline

AIFMD’s first reporting deadline approaches

On 31 October, new AIFMs will need to submit their first reports to the Luxembourg authorities. The final countdown has already begun.

At the end of 2013, only 12 Management Companies had been authorized as an AIFM by the CSSF. This number has now risen to over 200 applications for authorization, with more than 70% already approved.

OTC-Derivatives

Do you price your counterparty credit risk for OTC derivatives?

Counterparty credit risk was often ignored before the financial crisis. Now, with impact on the bottom line confirmed, those dealing with OTC derivatives are not only being asked to pay more attention to it, but also to value it.

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Remuneration rules for Non-EU Portfolio Managers of alternative funds


What to do about AIFMD? A question being asked by Non-EU Portfolio Managers, including in the US. And one of the main talking points is, unsurprisingly, the famous remuneration rules. Is there a way around them? Who do they apply to? What should I be doing? Just a few questions my colleagues Chrystelle Veeckmans, Jane Wilkinson, Charles Muller and Julien Bieber expect to hear when they attend the ALFI roadshow next week. I was able to give them a few insights into what US Portfolio managers might expect.