Maitland enhances AML compliance services in Luxembourg

Maitland enhances AML compliance services in Luxembourg
22.07.2020 04:07 pm

Maitland enhances AML compliance services in Luxembourg

Compliance , AML and KYC

Maitland, the leading global advisory and fund administrator, has announced it is enhancing its AML regulatory compliance capabilities to meet rising demand among Luxembourg fund managers.

Driving the need for outsourced compliance services in Luxembourg is the latest anti-money laundering (AML) guidance from the Commission de Surveillance du Secteur Financier (CSSF).

The legislation, issued in November 2019, requires all regulated funds in the jurisdiction to appoint two persons responsible: one for compliance at board or management level (the “RR”) and one for control at the corresponding level (the “RC”).

Catalysed by COVID-19, the recent trend towards remote working business environments has placed a renewed focus on security and AML risk assessment process, leading many Luxembourg regulated funds to outsource the RC role to third parties.

Maitland’s comprehensive service will provide regulated Investment Funds in Luxembourg with the ability to be fully compliant with the RC role requirement and support the boards with sound governance. 

Founded in Luxembourg over 40 years ago, Maitland’s experience within the funds industry combined with its in-depth AML expertise and knowledge of the Luxembourg regulatory landscape continues to attract new clients to its comprehensive solutions.

Kavitha Ramachandran, Head of Business Development & Client Management – Continental Europe, comments: ‘There’s no doubt that the latest CSSF AML guidance will help to reinforce Luxembourg’s prominent position as a leading hub for funds and alternative investments in Europe. We expect to see new players enter the market as structures around the new regulation take shape and we are fully prepared to help them navigate this environment.’

Dave Kubilus, Managing Director – ManCo Services, adds: ‘From enhanced risk assessment technology to new legislation from governing bodies, the regulatory landscape in Luxembourg is constantly changing. It’s vital that we evolve with it and adapt our services to meet the needs of our existing and future clients.’

Related News

Shield Joins IBM Cloud for Financial Services Ecosystem

Specialist RegTech provider... Read more »

Sysnet Adds New Features to its Revolutionary Proactive Data Security Solution

Sysnet Global Solutions, the leading provider of cyber security and compliance solutions, is... Read more »

UK Financial Institutions Prioritising Investment in Optimising Customer Experience, According to New Tink Research

New data published today from open banking platform Tink reveals that UK financial institutions are continuing to recognise the competitive advantage of open... Read more »

Hong Kong’s livi bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting Solution

Wolters Kluwer has been selected by livi bank for its award winning ... Read more »

Ideal Prediction Awarded ‘Best Surveillance Provider’ By FX Markets

Ideal Prediction (Ideal), the independent trading analysis and data science company for capital markets, has won the FX Markets award for ‘Best Surveillance... Read more »

Smith & Williamson Selects Broadridge’s Industry Leading SRD II Compliance Solution

Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, has announced an agreement to provide Smith & Williamson Group, a leading... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel