Agenda

Substance, delegation and governance requirements in Luxembourg Download Latest Agenda
08.00-08.45

Registration & breakfast
08.45-09.00

Welcome address
09.00-09.15

Chairperson’s introduction

  • Freddy Brausch

    Freddy Brausch Vice Chairman National Affairs ALFI and Partner Linklaters LLP

09.15-10.00

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

10.00-10.45

CSSF Circular 18/698: Substance, delegation and governance

Deep dive into CSSF requirements on substance and delegation as well as organisational considerations  
10.45-11.15

Refreshment break

11.15-11.45

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
11.45-12.25

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
12.25.12.40

Chairperson’s wrap up

12.40-13.40

Networking buffet lunch

13.40-13.45

Chairperson’s introduction

  • Freddy Brausch

    Freddy Brausch Vice Chairman National Affairs ALFI and Partner Linklaters LLP

13.45-14.25

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
14.25-15.10

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

15.10-15.40

Refreshment break

15.40-16.10

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
16.10-17.00

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?
  • Freddy Brausch

    Freddy Brausch Vice Chairman National Affairs ALFI and Partner Linklaters LLP

17.00

Closing remarks