A Practical AML/KYC Briefing for Luxembourg Funds

What you must know as professionals (including latest update)



Luxembourg based Funds face a large burden of compliance regulations including Anti Money Laundering (AML) and Know Your Customers (KYC) obligations and Counter Terrorism Financing (CTF) requirements.


Contrary to first impressions, this knowledge and insights in this matter are needed not just by Compliance Officers but also by Fund Directors, Custodians, Registrars and Transfer Agents, Auditors and Lawyers. Operations Directors and decision makers in the funds business would also find practical knowledge here quite helpful.


In the light of recent regulatory changes (new official circulars and recommendations) an update with details of the practical consequences is now necessary or possibly critical for many executives. This seminar aims to provide that update detailing recent developments and also the practical application of the regulations in all the areas of AML, KYC and CTF as relevant to Luxembourg Investment Funds.  



        Fund Directors and Dirigeants

        Transfer Agents and Custodians

        Compliance professionals working with Funds


         Auditors and Lawyers (CPD credit)





Part I General Introduction on AML/KYC and Counter Terrorism Financing in Luxembourg


          Money Laundering and Terrorist Financing: definition, process and examples

          Luxembourg AML/CTF legal and regulatory framework

          AML/CTF International Bodies:

-          FATF Organisation and Wolfsberg Group

-          The revised 40 FATF recommendations dated February 15, 2012

          Overview of professional obligations and penalties designed to prevent Money Laundering and Terrorist Financing

          The concept of Risk Based Approach

          AML/KYC recent development in Luxembourg (FATF evaluation, new CSSF circulars and professional recommendations)


Part II Application of AML/KYC and CTF requirements to Luxembourg Funds


          Allocation of AML/KYC and CTF obligations in a fund context: who is responsible?

          Overview of Management Company, Distributor, Registrar and Transfer Agent, Custodian - AML/KYC and CTF liabilities

          Meaning of KYC obligations for funds. Practical examples

          New concepts: from Exemption rule to Simplified/Enhanced Due Diligence process

          Other AML/CTF obligations for funds: transaction monitoring, archiving, training and cooperation with the Authorities



Part III Focus on AML/KYC and CTF issues in relation to Investment Funds


      PEP and Black List controls


      Identification of Beneficial Owner

      Impact of AML/KYC and CTF requirements on funds distribution

      AML/KYC and CTF obligations in the context of Alternative Funds

      Role of Auditors and Regulator


Part IV AML/KYC and CTF Risk Based Approach for Investment Funds

      CSSF circulars 11/519 11/529

      Country Risk List

      Documented Risk Based Approach


Case Study

Todays Date:

Duration 1 day
Available as an in-house course. Details on request.

Investment Education PLC
45 Old Hall Road, Manchester M7 4JF, United Kingdom
Tel:+44 (0)161 832 3800
Email: mail@investmentEducation.net
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