News
Codes of conduct in the financial sector
The financial sector in Luxembourg, as elsewhere in the world, curiously suffers from two contradictory reputations. For some, finance is an unbridled, unregulated realm governed by the free market law of the jungle. For others, it is the regulated sector par excellence. It is indeed subject to dozens of legal texts and to thousands of pages of instructions issued by supervisory authorities and central banks that monitor the slightest movement made by the sector’s actors.
The tide turns for investment funds
2009 was a good year for investment funds:assets under management increased by18% after a very difficult year in 2008, reports ALFI. Key objectives for the year ahead are to be more attentive to what investors say and to strengthen the promotion of Luxembourg funds.
Learning from the experts
Luxembourg should play to its strengths in Islamic finance: this was the advice from a high-ranking delegation from the Malaysian financial centre. Over 200 people accepted LFF’s invitation to attend an Islamic Finance debate between representatives of the Malaysian central bank (Bank Negara), Securities Commission and stock exchange and their Luxembourg counterparts. The event was hosted by the University of Luxembourg.
Le Luxembourg veut renforcer la lutte anti-blanchiment
Le Luxembourg prend la lutte contre le blanchiment des capitaux et le financement du terrorisme très au sérieux. Le but est de figurer parmi les meilleurs élèves de la classe. Le rapport du Groupe d’action financière (GAFI) sur le Luxembourg permettra de faire l’inventaire des points qui restent à améliorer.
www.lff.lu nun auch auf Deutsch
Seit heute gibt es die Web-Präsenz von Luxembourg for Finance auch in deutscher Sprache. Das deutschsprachige Angebot umfasst alle technischen Informationen über die Produkte und Dienstleistungen, über die verschiedenen Akteure und das rechtliche Umfeld des Finanzplatzes.
2009 ends on a high for insurance companies
The insurance sector enjoyed a remarkable recovery in the fourth quarter with insurance premiums rising by 170%, according to figures released by the Commissariat aux Assurances.
Speed and greed left no room for ethical conduct
The economic crisis was a failure of personal integrity from beginning to end. The consequences are massive financial regulation. Regulation can, however, only fix a given problem at a particular moment and becomes obsolete over time. These are the words of Charles Cronin, head of the CFA Institute Centre for Financial Market Integrity for the Europe, Middle East and Africa (EMEA) region, who was guest speaker at the first conference of the Luxembourg Institute of Global Financial Integrity (LIGFI). We spoke to him after the conference.
FWU named "best bancatakaful" at Islamic Business & Finance awards
Islamic Business and Finance Magazine recently awarded its 2009 "Best Bancatakaful" award to FWU Group in recognition of the success of its international Family Takaful business. FWU Group, which already received the title "Best Takaful Operator" in 2007 and 2008, produces white label shariah compliant unit-linked savings plans that are distributed by regional and international banks throughout the GCC.
New professional association for the private equity community: LPEA
The Luxembourg private equity and venture capital community turned out in force for the launch of a new professional association to represent its interests in Luxembourg.
Tax Report: Luxembourg ranks first within the EU
Luxembourg has confirmed its reputation as a competitive country to do business from a tax perspective. The country ranks first within the European Union for its total tax rate and the time necessary to comply with filing obligations. These data are taken from the latest report “Paying Taxes 2010-the global picture “from PricewaterhouseCoopers and The World Bank Group. The study measures the ease of paying taxes across 183 economies worldwide by assessing both the cost of taxes and the administrative burden of tax compliance.
