Luxembourg

Go West

Go West! KPMG Roadshow to the US

After Monaco, Frankfurt and London, we are on the road again. But this time, we have gone west and we are in the good old USA where the focus is on hedge funds for a KPMG Global Roadshow in Boston, Dallas, New York, San Francisco and Los Angeles.

Europelandofopportunity

Could Europe be the new ‘Land of Opportunity’ for distressed debt?

It appears that the US is no longer quite living up to its reputation as the place where dreams are made … or at least this is the case where one emerging fund type is concerned. Distressed debt – which was 100% ‘Born in the USA’ – is now hotfooting it to Europe in what one could only describe as an industry migration. But just what is behind this passage over the Atlantic?

investmentmanagement

2014, the year where the wheel turned for investment management regulation

KPMG’s asset management regulatory experts bring their insights to the fore in our annual report Evolving Investment Management Regulation: Clarity leads to opportunity. While 2012 saw an unprecedented wave of new regulations, which continued in 2013, 2014 heralds implementation and more coordination and convergence at international level, giving hope for some welcome light at the end of the tunnel.

UCITS

UCITS depository rules just evolved: here’s a round-up of changes

There’s no such thing as peace and quiet for depositaries since the regulatory avalanche hit Europe. While the AIFMD revisited the roles and responsibilities of AIF depositaries, the CSSF decided to publish its new circular on the UCITS depositary function on 11 July. These different texts will have to find ways to fit together: Circular 14/587 does not apply to AIFs (as they are addressed specifically by the law of July 12, 2013) nor to the SIF, SICAR and so-called Part II funds. For the latter, the main reference is still Circular 91/75.

ZIPBANKING

Unveiling Luxembourg Banks – Insights 2014

When Banks Insights was published last year, the clouds of banking secrecy were hovering over the industry. Since then, Luxembourg has had to make some tough choices. The end of an era meant a rethink on strategy and potential changes to operating models, especially for banks with less than €5bn in assets. The result has been consolidation, the repositioning of banks within international groups and – in certain cases – banks disappearing entirely from Luxembourg. Yet these moves were necessary to ensure a sustainable future for the financial centre.

fintech2

Fintech and traditional finance firms. Incompatible or future team mates?

Where does Fintech fit into the Luxembourg financial centre? This is the question you might find yourself asking after Luc’s introduction to Fintech yesterday. The answer is actually quite straightforward. As a country which is highly specialized in financial markets, Luxembourg simply cannot avoid or escape the Fintech trend. Many people fear Fintech as a challenger, ready to take on traditional finance. On the contrary, I believe we can adopt Fintech as an accelerator, a key to creating customer-centric and hyper-connected services.

fintechimage

The rise and rise of Fintech and virtual currencies

Of all the tech innovations to surface in the last five years, it’s Fintech that strikes me as the most exciting for Luxembourg. Fintech is not, despite its name, Finnish technology, nor shark related progress. It is financial technology and it is set to be huge.

Yellow jersey

If AIFMD were the Tour de France, which country would be in line for the yellow jersey?

Market participants as well as the Financial Authorities are all present in the peloton as we enter this final stage of the AIFMD Tour.

Header

Luxembourg – on the road to the World Cup

The whole Anglo-Saxon world had their eyes on Belgium when the US got kicked out of the world cup – but when it comes to the world of finance, its lesser known neighbour is even more important: a massive 22% of Luxembourg vehicles are being promoted by US fund houses. But this was not the only piece of information to be revealed at this year’s ALFI Roadshow in Frankfurt where KPMG’s very own Petra Schreiner and Sven Mühlenbrock shared their insights as speakers.

Fatca-reporting-fnal

FATCA: Only a piece of the global tax reporting puzzle

Today (1 July 2014) marks the beginning of a new U.S. tax reporting and withholding regime. Now that a FATCA compliant on-boarding system for individual clients should be up and running, financial institutions should also start to think about other FATCA requirements.