Three fund directors have sent a letter to Europe’s top regulatory body to complain about a lack of action by Luxembourg’s regulator CSSF to protect investors.
They run several Luxembourg-domiciled funds, known as LFP I, that were defrauded for millions of euros, contends LFP I director David Mapley. Mapley says the CSSF ‘is really obstructing our work’ to recoup the lost funds, he told Investment Officer.
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