Registration & breakfast


Welcome address


Chairperson’s introduction


The magnitude of the current relationship of cross-border funds with the UK – What is at stake?

  • Current operating and delegation models between UK and the European asset management industry
  • Distribution models
  • Facts and figures
  • Julie Patterson

    Julie Patterson Head of Asset Management Regulatory Change, Risk & Regulatory Insight Centre, EMA KPMG


CSSF Circular 18/698: Substance, delegation and governance

Deep dive into CSSF requirements on substance and delegation as well as organisational considerations  


Refreshment break


Tax Considerations

  • Impact for the ManCos
  • What impact for funds and investors
  • Transfer of service contracts to an EU entity
  • Termination of a contract vs. disposal of business
  • Particular considerations in the context of PE & RE


Reorganising cross-border fund management for Brexit

  • What are the options under CSSF Circular 18/698?
  • Delegation of functions to a UK entity
  • Restructuring
  • The third-party ManCo model in Luxembourg
  • Depositaries – delegation, outsourcing and risk transfer
  • Contingency planning

Chairperson’s wrap up


Networking buffet lunch


Chairperson’s introduction


Restructuring cross-border funds for Brexit

  • Marketing in the UK using your Luxembourg fund
  • Restructuring UK domestic fund ranges
  • Reorganising your fund and investors
  • Specific risk disclosures on Brexit in fund documentation
  • “Grandfathering” UK investors in a Luxembourg fund after March 2019
  • Implications for contracts and fund documentation – continuity and repapering
  • Marketing rules and UK-based sales teams post Brexit


Practical examples of addressing Brexit challenges

  • Asset managers recount their experiences
  • Régis Veillet

    Régis Veillet Head of Business Development Cross-Border Fund Solutions Societe Generale Securities Services


Refreshment break


The people and the place

  • Living and working in Luxembourg
  • What skillset for Luxembourg?
  • Relocation
  • Dual employment contracts
  • Your tax bill
  • Independent directors
  • Directors, senior managers and conducting officers


What does the future hold for European asset management?

  • Third-country access through equivalence; the way forward
  • Transition period
  • ESA review, recent developments from EU Commission, ESMA and the UK
  • Third-country passport under AIFMD: will it work?
  • Brexit: what spillover effect on asset managers in the US, Asia and other jurisdictions?


Closing remarks