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By Daniel PETSCH, Counsel, Arendt Medernach Hoa LE, Senior Manager, Arendt Regulatory Consulting
Developments at European level have prompted increased scrutiny by national competent authorities, including the Commission de Surveillance du Secteur Financier (CSSF), when carrying out their role as supervisory authority. The CSSF has clearly become more assertive and regularly uses on-site inspection of investment fund managers (IFMs) as a supervisory instrument, often resulting in regulatory sanctions. It is not surprising therefore that on-site inspections are often perceived as high-risk events, but they should also be viewed as an opportunity for IFMs to assess the effectiveness of their compliance frameworks. This article provides...
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