By Marc-André Bechet, ALFI – Luxembourg is in a quite unique position as a global funds jurisdiction compared to other financial centres in the European Union. The country enjoys an unrivalled political and economic stability. It benefits from a triple A rating with a stable outlook, which has been re-confirmed in September by the three rating agencies Fitch, Standard & Poor’s and DBRS Morningstar. Luxembourg is one of the ten countries worldwide with a triple A rating. Debt to GDP, although on the rise as a consequence of the current crisis, will soon reach 26 per cent but remains well below debt levels in the EU.
Legal & Regulation
By A Paris – Uncertainty remains the order of the day as the world heads into a period of slow recovery which risks being scuppered by a variety of factors including the US elections, trade tensions and the prolonged impact of the Covid-19 pandemic. Financial services practitioners in Luxembourg, like their peers in other jurisdictions, have had to navigate this volatile environment while continuing to provide a seamless service to clients.
Orient Capital, a specialist in share ownership analysis and identification, market intelligence, investor communication and shareholder management technology, has initiated two client projects by incorporating the ‘Proxymity ID’ technology into its existing analytical processing systems.
Gibraltar law firm ISOLAS LLP has welcomed significant new changes to the jurisdiction’s Limited Partnership Law, published by Her Majesty’s Government of Gibraltar (HMGoG), as the jurisdiction commits to the future of its funds industry.
Over the coming weeks, DMS will bring you its unique perspective on the challenges and opportunities presented to them as the European regulatory landscape shifts. The DMS Client Solutions Team tell you how they see it, on the ground, using their expertise and technical knowledge to assist clients in structuring their products with appropriate governance and compliance frameworks in place. This four part series begins with “Why Cross-Border Fund Domiciles are Transforming into Fund Management Hubs”, as Daniel Forbes explores the post-Brexit regulatory landscape and how large countries and small countries are jockeying for position to fill the void left by an increasingly isolated London.
InReg and Veneziano & Partners have released a new information paper, SFDR - Road Map to March 2021, which contains actionable intelligence and is a highly practical tool to help financial market participants with mapping out the steps required to comply with SFDR by March 2021.
The ASEAN region has demonstrated itself as a major area for investment and potential growth. However, much of this growth is still on the horizon and yet to be materialised. For the prospects of the ASEAN region to reach their true potential, the current environment requires cost efficiency, scalability and talent. These are critical factors to creating a supportive ecosystem.
The Monetary Authority of Singapore (MAS) has been proactive and transparent with licensing requirements, compared to other jurisdictions. The Digital Acceleration Grant (DAG) programme incentivises firms to modernise operations, equipping smaller managers with the necessary technology and helping new funds get off the ground. This programme, coupled with geopolitical influences, contributes to Singapore accelerating as a safe-haven for money and financial institutions.
By A Paris – This year will be forever remembered as the one which saw a global pandemic taking over the world, widespread travel restrictions and significant market volatility. But in Singapore, 2020 can be considered in a more favourable light. Despite the less than auspicious environment, the jurisdiction reaped success in launching a new fund structure, generating manager interest in an otherwise turbulent period.
By Mark Voumard, Gordian Capital – Readers will be familiar with onshore domiciles such as Dublin or Luxembourg. How does Singapore differ?