Archives > 2006-12

The ALCO, ABBL and ALFI published a document that is to be considered as guidance on best practice for the Luxembourg fund industry in the light of the requirements of the law of 12 November 2004 on the fight against laundering and terrorist financing and the CSSF circular 05/211. It suggests a risk based approach in relation to customer identification and transaction monitoring in alignment with international standards, including the FATF recommendations, the European Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and...

The audit firm Deloitte and the Luxembourg Bankers’ Association (ABBL) published a brochure relating to the impact of compliance on financial institutions in Luxembourg. They wished to ascertain how the banks and FSPs (Financial Services Professionals) in the Luxembourg financial centre had implemented the extensive regulatory changes made in the past 3 years. One may find it strange...

A very interesting Conference will take place at the European University Institute of Florence on May 25-26, 2007 on the subject : "Financial Institutions, markets and ethics : Mixed approaches...

The creation of the FATF was positive. Unfortunately the assessments do not comply with the reality as some countries that belong to the FATF do not respect the recommendations and even their...

The FSA published a guide to explain the approach it uses to assess risks in firms and the part Non-Executive Directors play in the risk assessment process. See guide