• Organisational structure, segregation of duties and reporting lines;
• Fit and proper assessment of key function holders;
• Management information and specific reporting;
• Conflicts of interest management;
• Interaction with the regulator;
• Any other matter raised by participants.

AML/CTF Risk appetite statement

• Fundamental element of the AML/CTF framework
• Key elements of an effective AML/CTF risk appetite statement
• Use Case and generally observed good practice

Public material: Quo Vadis de-risking ?  (Agefi Luxembourg, May 2024)
 

AML/CTF due diligence on illiquid assets

• Overview of regulatory obligations and market challenges
• Necessary factors for an effective AML/CTF due diligence on illiquid assets
• Use Case and generally observed good practice

Public material: The uncharted waters of AML on assets (Agefi Luxembourg, February 2024)
 

Oversight of delegated activities

• Roles and responsibilities of those delegating activities and of the delegates
• Techniques for an effective oversight of delegated activities
• Use Case and generally observed good practice

Public material: AML/CTF focal points for the investment fund sector in 2024 (Performance Magazine, February 2024)

Part 1

• Crash course on IT: understanding the basics of IT to have a better understanding of the potential impacts of cyber risks
• Cyber threat landscape and Escape room experience: overview of the current cyber threats and practice your skills in a cyber escape room
• Key aspects of Cyber Risk Management: what should you do as a conducting officer?

Part 2

Regulatory Focus (relying on practical examples, template of documents, etc.)

• IT Outsourcing (and Third party Risk in general)
• DORA

• The Tax Governance session will provide a deep dive on selected operational tax topics notably relevant for mainstream open-ended funds. The session will be highly interactive, with a special focus on real life examples and case studies, where the attendants will be able to understand the application of the tax technical points to specific situations. The Tax Governance session will include four sections, covering the following tax hot topics: Withholding Tax, Subscription Tax, AML Tax and FATCA/CRS.
• The Withholding Tax section will develop the main aspects to consider when handling source taxation on income streams generated by the fund's underlying assets. Under certain conditions, Luxembourg Funds may request Relief of Taxation at source as well as filing Withholding Tax reclaims. The lack of proper oversight of the Withholding Tax position of the relevant funds could lead to additional tax costs and missed tax refund opportunities. In contrast, the positive financial impact of adequate withholding tax management could lead to a competitive edge in the market.
• The Subscription Tax section will address the main challenges generally faced by mainstream funds when complying with its related obligations. The attendants will receive detailed overview of the procedural aspects of this tax, as well as regarding the potential rate reductions and exemptions applicable. The application some of these exemptions (e.g., the so-called "FoF exemption") can become particularly complex and the session will consider the best market practices on this matter, as well as an overview of the current inspections and audits currently being pursued by the authorities on key topics.
• The AML Tax section will discuss the procedures and controls that should be in place to ensure compliance with the applicable legislation. The Luxembourg AML Law establishes that certain covered professionals, including Luxembourg funds and its management companies, have the obligation to inform when they know, suspect or have reasonable grounds to suspect that money laundering -which definition includes tax evasion and tax swindle- is being committed, has been committed or attempted. This section will consider the adequate processes that should be implemented to monitor potential AML Tax red flags and escalation measures.
• The FATCA/CRS section will help Conducting Officers to navigate the features of these exchange of information regimes. Subject to certain conditions, Luxembourg asset managers may have to comply with the account reporting obligations established by the Luxembourg implementation of the OECD Common Reporting Standard (CRS) and the US Foreign Account Tax Compliance Act (FATCA). This session will focus on real life examples and challenges and the discussion of best practices to address them.

• Regulatory updates & latest market insights
  • EU legislation & guidelines
  • AM Industry trends
• Responsibilities of Conducting Officers & Governing Bodies
  • Conducting Officer’s Responsibility
• Trending Topics
  • CS3D
  • EFRAG ESRS implementation guidance
  • CSRD:
    • State of play/readiness in the AM industry
    • Governance structures, processes, controls, and procedures for managing sustainability (including risk management, internal control, and sustainable due diligence)
    • Initial observed market practices
• CSRD
  • Strategy – Governance – Business Model
  • Double materiality assessment
  • Stakeholder engagement
  • Data collection
• SFDR Reporting
  • Key outstanding points on periodic reports
  • SFDR vs SDR (UK): differences and similarities
  • ESAs Final Report on fund names using ESG or sustainability-related terms
• Outlook on EU Taxonomy (eligibility vs alignment)
  • Disclosures & metrics
  • EU Taxonomy, CSRD, and SFDR

• IPEV Guidelines Overview
  • Overview of the main IPEV concepts, including the scope of application, the concept fair value and the main different valuation approaches
  • Focus on main changes from the updated guidelines released in December 2022
• Private Equity Valuation - Part 1
  • Brief overview of the different methodologies available (income, market and cost approaches)
  • Zoom on the income approach to understand (i) in which context it is best suited, (ii) how to use it adequately, (iii) typical pitfalls and inconsistencies
• Private Equity Valuation - Part 2
  • Zoom on the market approach
  • Bridge from Enterprise value to Equity value
  • Use of premiums and discounts
  • Asset valuation and fund interest valuation
  • Specificities for venture backed-investments and infrastructure assets
• Private Equity Case Study: use of valuation concepts in a real-life private equity valuation

• Private Debt Valuation
  
  • Overview of private debt investments
  •  Key risks of investing in private debt
  • Main methods in private debt valuation
  • Key challenges and common mistakes

• Real Estate Valuation
  • Introduction to real estate
  • Purpose of real estate valuation
  • Key valuation inputs and value drivers
  • Main valuation approaches

Each session is scheduled from 8:30 AM to 2:00 PM and include networking breakfast and lunch.

You can register to one or more training sessions, and for each topic, we offer two different dates to accommodate your professional constraints.

We have defined a degressive participation fee model to give the opportunity to deep dive into multiple topic at a better price.

Registration can be made at Company level, and not necessarily for any individual participant, so that you can benefit from degressive pricing even if you decide to have different professionals attending different sessions.

Here is our participation fee grid:

REGISTER NOW

Curious about the program?

Download the program here