{
  "title": "Luxembourg: Financial Sector Assessment Program: Technical Note-Fund Management: Regulation, Supervision, and Systemic Risk Monitoring",
  "publication": "IMF Staff Country Reports, August 28, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/08/28/luxembourg-financial-sector-assessment-program-technical-note-fund-management-regulation-45205",
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  "summary": "This Technical Note discusses the findings and recommendations made in the 2017 Financial Sector Assessment Program for Luxembourg in areas of regulation, supervision, and systemic risk monitoring of fund management.",
  "publishDate": "2017-08-28",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive findings",
      "content": "- The Technical Note discusses the findings and recommendations made in the 2017 Financial Sector Assessment Program for Luxembourg in areas of regulation, supervision, and systemic risk monitoring of fund management.\n- Certain structural elements of the Luxembourg fund management industry merit increased supervisory analysis and attention beyond current activities, notably:\n  - the extensive use of delegation; and\n  - concentration of fund directorships.\n- The Luxembourg framework for liquidity management tools compares favorably with its peers at both the EU and international level.\n- Information on leverage of funds is identified as being of potential relevance from a systemic risk perspective.\n- The Luxembourg authorities have been actively monitoring and contributing to discussions on the EU money market funds regulation."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject areas: Asset and liability management, Financial institutions, Financial instruments, Financial regulation and supervision, Liquidity management, Liquidity risk, Mutual funds, Securities.\n- Keywords provided: CR, CSSF hierarchy, fund manager, Global, investment company, investment funds, ISCR, Liquidity management, Liquidity risk, management company, Mutual funds, Securities, UCITS Directive, UCITS fund."
    },
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      "heading": "Publication and document metadata",
      "content": "- Publication date: August 28, 2017\n- Pages: 55\n- Volume: 2017\n- Issue: 257\n- Series: Country Report No. 2017/257\n- DOI: https://doi.org/10.5089/9781484316771.002\n- Stock No: 1LUXEA2017006\n- ISBN: 9781484316771\n- ISSN: 1934-7685\n\nInternational Monetary Fund. Monetary and Capital Markets Department \"Luxembourg: Financial Sector Assessment Program: Technical Note-Fund Management: Regulation, Supervision, and Systemic Risk Monitoring\", IMF Staff Country Reports 2017, 257 (2017).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/08/28/luxembourg-financial-sector-assessment-program-technical-note-fund-management-regulation-45205"
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    "Published: August 28, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484316771.002",
    "The Technical Note discusses the findings and recommendations made in the 2017 Financial Sector Assessment Program for Luxembourg in areas of regulation, supervision, and systemic risk monitoring of fund management.",
    "Certain structural elements of the Luxembourg fund management industry merit increased supervisory analysis and attention beyond current activities, notably:",
    "The Luxembourg framework for liquidity management tools compares favorably with its peers at both the EU and international level.",
    "Information on leverage of funds is identified as being of potential relevance from a systemic risk perspective.",
    "The Luxembourg authorities have been actively monitoring and contributing to discussions on the EU money market funds regulation.",
    "Subject areas: Asset and liability management, Financial institutions, Financial instruments, Financial regulation and supervision, Liquidity management, Liquidity risk, Mutual funds, Securities.",
    "Keywords provided: CR, CSSF hierarchy, fund manager, Global, investment company, investment funds, ISCR, Liquidity management, Liquidity risk, management company, Mutual funds, Securities, UCITS Directive, UCITS fund.",
    "Publication date: August 28, 2017",
    "Pages: 55",
    "Volume: 2017",
    "Issue: 257",
    "Series: Country Report No. 2017/257",
    "DOI: https://doi.org/10.5089/9781484316771.002",
    "Stock No: 1LUXEA2017006",
    "ISBN: 9781484316771",
    "ISSN: 1934-7685",
    "**Country Report**"
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