This training aims at explaining the Anti-Money Laundering (AML) rules and professional obligations currently applicable to Luxembourg UCIs, management companies and other financial institutions dealing with investment funds and will focus on their practical implications. The training will also point out the latest developments related to the AML professional obligations resulting from recent (or upcoming) changes in the legislative framework and/or the case law at the time of the training and their impact on the practice of Luxembourg authorities and professionals. This training is dedicated to an experimented target audience.
Customer Due Diligence” (CDD) obligations: AML and CTF responsibilities in a fund related constellation, focus on the enhanced and simplified CDD measures (including correspondent/nominee relationship due diligence), recourse to a third party to carry out KYC duties, source of funds (definition and respective obligations)
Internal organisational requirements for UCIs, management companies and other financial institutions under the EU AML Directives, as implemented in Luxembourg
Practical approach to the obligation to cooperate with the relevant authorities (i.e. filing a suspicious transaction report, examples of suspicious elements, no tipping-off obligations (relationship UCI – service provider), dealing with freezing orders, examples of recent case law, etc.)
Development of good and bad AML practices on the basis of the latest activity report of the Cellule de Renseignement Financier and of the CSSF’s annual report
Impact of recent and upcoming developments in this field (e.g. 5th AML Directive) as well as their practical impact for Luxembourg financial institutions, such as for instance (depending on the date of the training):
- Modifications to the existing Luxembourg legislative framework (e.g. to the law of 12 November 2004 on the combat against money laundering and terrorist financing, as amended)
- Modifications to the European or international AML standards (e.g. ESA Guidelines or the FATF-GAFI recommendations)
- Development of the regulatory and prudential rules applicable to Luxembourg financial institutions (e.g. amendment of the CSSF AML regulation or other relevant circular letters)
Stéphane Badey (Partner, Arendt Regulatory & Consulting),
Anastasia Marie-Hontaas (Manager, Arendt Regulatory & Consulting).
Experimented professionals in charge of front office, administration, legal and compliance functions in banks, management companies, self-managed investment companies or other professionals of the financial sector.
For any information, please contact us by e-mail firstname.lastname@example.org