## Luxembourg: Financial Sector Assessment Program: Technical Note-Fund Management: Regulation, Supervision, and Systemic Risk Monitoring

_IMF Staff Country Reports, August 28, 2017_

## Source details

**Canonical URL:** [Luxembourg: Financial Sector Assessment Program: Technical Note-Fund Management: Regulation, Supervision, and Systemic Risk Monitoring](https://www.imf.org/en/publications/cr/issues/2017/08/28/luxembourg-financial-sector-assessment-program-technical-note-fund-management-regulation-45205)

## Other formats

- [Markdown version](/en/publications/cr/issues/2017/08/28/luxembourg-financial-sector-assessment-program-technical-note-fund-management-regulation-45205/index.md)
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## Bibliographic details
- Published: August 28, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484316771.002

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### Executive findings
- 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 extensive use of delegation; and
  - concentration of fund directorships.
- 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 coverage and keywords
- 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 and document metadata
- 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

*International 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).*

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- **Country Report**
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_Source: https://www.imf.org/en/publications/cr/issues/2017/08/28/luxembourg-financial-sector-assessment-program-technical-note-fund-management-regulation-45205_