CSSF Circular 24/856 – New Guidance on Regulated Funds and Investor Protection
Recorded On: 10/03/2024
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For more than two decades, CSSF Circular 02/77 was the reference guidance for investment fund professionals on non-compliance with investment rules and significant NAV errors. The Commission de Surveillance du Secteur Financier (CSSF, the Luxembourg supervisory authority of the financial sector), has now revamped its rules and issued CSSF Circular 24/856. What has changed and what does this mean for the asset management industry – particularly for alternative investment funds – in Europe and beyond? What is the relevance of the new guidance for US fund professionals?
Learning Outcomes
- Identify the key changes introduced by CSSF Circular 24/856: Participants will learn about the significant revisions introduced in CSSF Circular 24/856 compared to the previous guidance (CSSF Circular 02/77) and their implications for investment fund professionals.
- Understand how the circular seeks to enhance investor protection: What procedures should be followed in the event of a NAV calculation error, non-compliance with investment rules and other errors?
- Analyze how NAV errors and investment compliance breaches need to be handled in private assets funds/alternative investment funds: What are the particular challenges?
- Learn how to comply with the new guidance in practice: By the end of the webinar, participants will be equipped with practical knowledge to ensure compliance with the new guidance and enhance investor protection strategies within their organizations.
Target audience
Professionals within the global asset management and investment fund industry, including in the private assets space, focused on Fund and Investment Compliance, Fund Accounting, Risk Management, Portfolio Management, Operations, and Legal
This program is sponsored by:
CPE INFORMATION:
Nicsa is pleased to offer this webinar learning activity to attendees who are seeking CPE credits. 1 CPE unit may be available for attendees of this webinar. The webinar requires no advanced preparation, no pre-requisite study and is appropriate for all who have a basic understanding of the investment management industry.
Nicsa is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
CPEs Earned: 1
CPE Field of Study: Regulatory Ethics
Program Level: Basic
Delivery Method: Group-Internet Based
Advanced Preparation: None
CE Credits Redeemable with Investments & Wealth Institute™ (IWI)
Nicsa is a registered sponsor with the Investments & Wealth Institute™ (IWI) for continuing education credits applicable to CIMA®, CPWA®, RMA®, and CIMC® certifications. This 60-minute webinar has been pre-approved by IWI for 1 CE credit.
To redeem your CE credit, you must self-report your participation by visiting the Investments & Wealth Institute™ website: https://investmentsandwealth.org. Following the conclusion of the webinar, please enter the program date, program ID, program title, and Nicsa as the sponsoring organization. Nicsa will not report your participation on your behalf.
The Investments & Wealth Institute™ has final authority on the acceptance of individual courses for CE credit. If you have any concerns or complaints regarding registered sponsors, you may submit them via the IWI website: https://investmentsandwealth.org/contact-us.
CPEs Earned: 1
Continuing Education Topic: Applicable Regulations - Compliance and Legal Implications
Program Format: Live Webinar
CANCELLATIONS AND REFUNDS: Due to this program being offered free of charge, there will be no refunds issued. Questions or Cancellations: Please contact Lilly Bahmani at info@nicsa.org
Please note by registering for this webinar, you are consenting to Nicsa sharing your information with the sponsor of this webinar, who may subsequently contact you. You may unsubscribe from these communications at any time. For more information, check out our Privacy Policy
Please note by registering for this webinar, you are consenting to Nicsa sharing your information with the sponsor of this webinar, who may subsequently contact you. You may unsubscribe from these communications at any time. For more information, check out our Privacy Policy
Prasanta Mandal (Moderator)
Director, Deloitte Luxembourg
Prasanta Mandal is a Director in the Alternatives Investments Consulting department of Deloitte Luxembourg. He has over 13+ years of experience in the Financial Services industry with career spanning both Capital Markets in Singapore and investment funds in Luxembourg. His primary areas of expertise are risk and regulatory advisory, investment and operational due diligence, service provider selection, Target Operating Model, operational strategy and efficiency, outsourcing strategy and product development. He has supported several asset managers in a range of topics from strategy to operational execution.
Francois Ralet
Head of Management Company
Wellington
Francois is the Head of Wellington Luxembourg SARL, the European Management Company of the Wellington Group which manages about 70 UCITS and 10 AIFs in Ireland and Luxembourg. Francois is also the Conducting Officer in charge of Risk Management and joined Wellington in October 2018. Before joining Wellington, Francois was Senior Manager at PwC Luxembourg within the risk department of the advisory practice, responsible for risk management.
Maria Samuelsson von Oldenskiöld
Managing Director, Head of Client Services (Fund Operations)
EQT
Maria Samuelsson von Oldenskiöld joined EQT in May 2022. Prior to joining EQT, Maria worked as a Global Head of Financial Reporting at Partners Group as well as many other positions at the company. She has also worked as a controller at Ashland and Manager at PricewaterhouseCoopers. Maria has over 20 years of experience within finance and as a manager all over the world.
Maria holds a Master’s degree in Finance and Business Administration from Göteborgs University and she is also a Fellow of Certified Chartered Accountants, ACCA.
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