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March 14, 2023
Laws and Regulations,Asset Servicing

Cross-border distribution of funds: ManCos fear gold plating

Luxembourg management companies, also known as “ManCos”, are drawing attention to the increasing reporting burden that often lands on their shoulders when European level regulation, such as the cross-border fund distribution directive, is passed. These …
March 13, 2023

PwC Luxembourg announces new country leadership team

Consulting and accounting firm PwC Luxembourg has announced its new “country leadership team” after a vote by the firm’s partners on 10 February 2023. The team which, according to the PwC press release, collectively possesses “a wealth of local and …
March 13, 2023
Investing,Opinion

Chart of the Week: Are equities complacent?

Powell opens the door to a 50-basis-point rate hike, interest rates shoot up and equities crash. And yet, at the time of writing, the VIX index is below 20, raising the question of whether equities are not a bit complacent. You can probably already hear a …
March 13, 2023
Opinion,Laws and Regulations

Financial regulation in Luxembourg: what’s coming?

The Commission de Surveillance du Secteur Financier (CSSF) is working relentlessly to further build a financial system that is safe, transparent, and reliable. To achieve this goal, the supervisors of the Luxembourg financial sector collaborate closely …
March 13, 2023
Investing

BlackRock sees declining inflows for global ETFs

Inflows into global equity and bond ETFs have been declining for five months in a row, and for the first time since March 2018, money flowed out of US equity ETFs for two consecutive months. This is according to BlackRock’s monthly ETF report. In …
March 12, 2023
Sector,Supervision

SVB crash: ECB is concerned over rate risk management

Answering questions about the bank run on Silicon Valley Bank, the European Central Bank on Sunday underlined its concerns over how European banks are managing risks relating to increasing interest rates. The ECB has recently made clear that a supervisory …
March 10, 2023
News

Biggest US bank bust since 2008 exposes interest risks

Has the sudden collapse of Silicon Valley Bank ignited fears of a new financial crisis? Or is its demise incidental, offering investors an excuse to take profits on attractive gains that bank sector stocks booked in recent months? As European financial …
March 10, 2023

EY Luxembourg committed to demerger as vote is delayed

A decision by consultancy EY to split its business into separate entities for audit services and management consultancy has been pushed back to later this year because of the “complexity” of Project Everest, as the plan is internally known. EY Luxembourg …
March 10, 2023
Asset Managers

Maxime Carmignac wants no fights over gender diversity

The lack of transparency in sustainability legislation and poor corporate disclosure does not mean that we should not strive for sustainable investing and for more inclusion and gender equality in the asset management industry, argues Maxime Carmignac, …
March 10, 2023
Asset Managers,News

Luxembourg jobs at risk as Nordea, M&G plan layoffs

Referring to “significant mid-term uncertainty and volatility”, Nordea Asset Management on Thursday said it intends to reduce its 242-people strong workforce in Luxembourg as part of a wider plan that involves redundancies in Denmark and Sweden along with …