Publication: PriceWaterHouseCoopers Luxembourg

First reported Aug 09 2014 - Updated Aug 09 2014 - 1 reports

Chinese e-business companies eying at Luxembourg

With more and more Chinese banks and Chinese e-payment providers showing growing interest in doing business in Europe, the Luxembourg Trade and Investment Office in Shanghai together with major Luxembourg-based companies – POST Luxembourg, EBRC, PwC and ... [Published PriceWaterHouseCoopers Luxembourg - Aug 09 2014]


"The Luxembourg Asset Management industry should pay close attention to emerging markets since global fund distribution is increasingly targeting them. Luxembourg investment funds must ensure that each distributor they work with, regardless of the country the latter operates from, complies with Luxembourg or EU (Directive EC 2005/60/EC) equivalent AML/CTF obligations. Ultimate responsibility for the appropriate implementation of investor identification and other AML/CTF due diligence measures lies with the fund managers. The CSSF Regulation 12-02 and related regulations for Management Companies of Investment Funds have reinforced this approach” , said Birgit Goldak, Distributor Due Diligence Leader, PwC Luxembourg."

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