Ethics and governance in the European Financial centers

Today and tomorrow is taking place in Luxembourg the 11th Annual Fund Compliance Conference on the topic : The Responsibility of The Depositary Bank A Detailed Regulatory and Business Practice Overview

In the Ad, it is said that the European Commission will highlight the Commission Approach with regards to “Depositary Responsibilities”.

The conference will give a detailed regulatory and business practice overview of “The Responsibility of The Depositary Bank” and will provide a lively debate on how to build on shared and mutually reinforcing responsibilities The Role, Responsibility and Liability of The Depositary Function and its Delegation.

Indeed, there are differences in approaching depositary duties across Europe and consequences from the financial crisis have pledged for a strengthening of the functioning of the financial markets.

A panel session will give the views from Fund Board Members on their role and responsibility vis à vis a substantive oversight of the fund that includes the supervision of the depositary duties.

Finally the conference will assess whether UCITS IV generation is addressing adequately depositary duties and how the various scenarios of the Management Company Passport will impact the functioning of the depositary duties.

It is very amazing that the conference on a sensitive topic for Luxembourg is like boycotted by the Luxembourg financial community. It is a consent that the legal and regulatory framework on the depositary is in question in Luxembourg.

Such behaviour is worrying for investors.

 

 

A Google search shows that there is only one article about the conference for site:lu:

The 11th Annual Fund Compliance Conference on the topic : The Responsibility of The Depositary Bank A Detailed Regulatory and Business Practice Overview is not promoted by the ALFI, the official representative body for the Luxembourg investment fund industry. Strange.

The 11th Annual Fund Compliance Conference on the topic : The Responsibility of The Depositary Bank A Detailed Regulatory and Business Practice Overview is not promoted by Luxembourg For Finance, the agency for the development of the financial sector. Strange.

 

 

 

 

 

 

 

The 11th Annual Fund Compliance Conference on the topic : The Responsibility of The Depositary Bank A Detailed Regulatory and Business Practice Overview  is not promoted by the ABBL, the Luxembourg Bankers' Association. Strange.