Laurent Fessmann, Baker & McKenzie

Laurent Fessmann
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

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  


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

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?