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By Stéphanie JEAN, Managing Director, PwC Luxembourg
Nowadays, we observe that the Luxembourg local regulator, the Commission de Surveillance du Secteur Financier (CSSF), is in a move of clarifying grey areas on investment fund compliance matters while increasing the threat of sanctions. This move has a consequence that flexible approaches previously adopted are not anymore acceptable and therefore, in order to face such a challenging situation, the number of interactions between market participants, the regulator and the advisors are continuously increasing.
First, it is important to mention that Investment Fund Compliance is not to be confused with Fund Compliance. Although both are important in the life of a fund, the role and objectives...
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