Regulatory/Compliance

Fund marketing: increased scrutiny in store for asset managers

Since 2 February 2022, the guidelines on marketing communications prepared by the European Securities and Markets Authority (ESMA) have been applicable throughout the European Economic Area (EEA) for funds distributed on a cross-border basis. Just days earlier, the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg published Circular 22/795 (PD […]
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Banking institutions should prepare now for Basel IV regulations

The Basel Accords, overseen by the Basel Committee on Banking Supervision (BCBS) has issued a round of reforms and regulations in recent years. The Basel III final reforms, referred to as Basel IV, will be fully implemented by January 2025, which means banking institutions have less than three years to get ready. Many banks have delayed their preparation, and fe […]

Luxembourg’s transposition of EU Directive 2019/1937 on the protection of whistleblowers

On 12 January 2022, Luxembourg Minister of Justice Sam Tanson presented the bill to transpose the EU Directive 2019/1937 on the protection of whistleblowers. This bill aligns Luxembourg with EU requirements in protecting people who report breaches of EU laws. How does the Luxembourgish bill compare to the EU directive? The Luxembourgish bill is mostly a straig […]
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Luxembourg’s long-form reform – how ready are you?

Origin of the reform At almost 20 years old, the current long form is no longer adapted to today’s fund landscape. Why? Some fund types were not in the scope of the requirement, so investment fund managers did not need to prepare a long form–even though they play an important role in the fund ecosystem. In addition, the long-form data was not in a format th […]

Proposed amendments to sale-and-leaseback. How ready are you?

In mid-2020, the IFRS Interpretations Committee (IFRS IC) received a question on how to measure a lease liability and right-of-use (ROU) asset on a sale-and-leaseback transaction with fully variable payments. You might be wondering what sparked this question in the first place. Well, IFRS 16 prohibits the inclusion of variable lease payments (except for those […]
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Fair valuation of investment property in uncertain times

It’s no secret that measuring a fair value of investment property has always been a challenging task...and, needless to say, the current pandemic has not made it any easier. The valuation of investment property following the principles of IFRS 13 is usually dependent on several assumptions and unobservable inputs. The current market situation may very likel […]
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