Luxembourg Commission de Surveillance du Secteur Financier (CSSF)

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Vistra Fund Management S.A.: €23K Fine (Luxembourg)

September 19, 2024
Public Notice by the Luxembourg CSSF that it has imposed a fine of €23,000 on Vistra Fund Management S.A., described as an "alternative investment fund manager", for regulatory breaches, including two instances where fund managers also acted as "external valuers", which "which could not guarantee the independent valuation of the AIFs’ assets".

Thierry Grun: Auditor Disqualification (Luxembourg)

July 9, 2024
Public Notice by the Luxembourg CSSF that it has imposed "the permanent deregistration from the public register and the permanent prohibition for the réviseur d’entreprises agréé (approved statutory auditor)" of Thierry Grun.

Fuchs & Associés Finance SA: Dissolution & Liquidation (Luxembourg)

July 18, 2023
Press Release by the Luxembourg CSSF that it has revoked the license of "investment firm" Fuchs & Associés Finance S.A. due to "serious breaches of essential legal and regulatory requirements" and that the Luxembourg District Court had ordered the "dissolution and judicial liquidation" of the company.

Fuchs & Associés Finance SA: €1M Fine

September 1, 2022
Public Notice by the Luxembourg CSSF that it has imposed two fines totaling €1,015,000 on investment firm Fuchs & Associés Finance S.A. for regulatory breaches.

FAB CBO 2003-I BV: €15K Fine

August 3, 2022
Public Notice by the Luxembourg CSSF that it has imposed a fine of €15,000 on FAB CBO 2003-I B.V., of the Netherlands, for failure to file its 2021 annual report "within the required time limit".

LRI Invest SA: €163K Fine

June 16, 2022
Public Notice by the Luxembourg CSSF that it has imposed a fine of €163,134 on LRI Invest S.A., described as an "investment fund manager", for regulatory breaches.

European Depositary Bank SA: Reprimand

May 4, 2022
Public Notice by the Luxembourg CSSF that it has imposed a reprimand on European Depositary Bank S.A. "following the violation by the Bank of the CSSF's temporary prohibition of 5 March 2021 on the onboarding of new investment fund structures due to severe deficiencies in its organisation and governance".

Atos Luxembourg PSF SA: €18,750 Fine

May 3, 2022
Public Notice by the Luxembourg CSSF that it has imposed a fine of €18,750 on Atos Luxembourg PSF S.A. "for defaults of prudential obligations related to administrative and accounting organisation".

Agir Luxembourg SA: €40K Fine

January 27, 2022
Public Notice by the Luxembourg CSSF that it has imposed a fine of €40,000 on PFS Agir Luxembourg S.A. for regulatory breaches.

Banque de Luxembourg SA: €1.3M Fine

December 23, 2021
Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €1.32 million on Banque de Luxembourg SA for regulatory breaches.

Vimco Luxembourg SA: €35K Fines

December 14, 2021
Public Notice by the Luxembourg CSSF that it has imposed two fines totaling €35,000 on Vimco Luxembourg S.A. for regulatory breaches.

Amundi Luxembourg SA: €153K Fine

November 26, 2021
Public Notice by the Luxembourg CSSF that it has imposed a fine of €153,400 on Amundi Luxembourg SA, described as an investment fund manager, for a regulatory breach.

GAM (Luxembourg) SA: €48.5K Fine

November 26, 2021
Public Notice by the Luxembourg CSSF that it has imposed a fine of €45,500 on GAM (Luxembourg) SA, described as an investment fund manager, for regulatory breaches.

Reyl Prime Solutions SA: Reprimand

November 24, 2021
Public Notice by the Luxembourg CSSF that it has issued a reprimand to Reyl Prime Solutions S.A. (in Voluntary Liquidation) for a regulatory breach.

Transnet SOC Ltd.: €15K Fine

November 15, 2021
Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €15,000 on Transnet SOC Ltd. for regulatory breaches.

Federale Management SA: €10K Fine

October 1, 2021
Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €10,000 on Federale Management S.A., described as "an investment fund manager", for regulatory breaches.

Agate Assets SA: €15K Fine

September 30, 2021
Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €15,000 on Agate Assets S.A. for failure to publish its 2020 annual financial report on time.

Universal-Investment-Luxembourg SA: €45K Fine

January 18, 2021
Public Notice by the Luxembourg CSSF that it has imposed a fine of €45,000 on Universal-Investment-Luxembourg S.A., described as an "investment fund manager", for regulatory breaches. Editor's Note: Research by OffshoreAlert showed that, in the Luxembourg Business Registry, Universal-Investment-Luxembourg S.A.'s principals are identified as Frank Eggloff, Markus Neubauer, Michael Reinhard, Matthias Muller, and Sean O'Driscoll, and on the website of Universal-Investment-Luxembourg S.A. at https://www.universal-investment.com/, it is stated that the company is "a wholly owned subsidiary of Universal-Investment-Gesellschaft mbH, Frankfurt am Main" and that the "Management Board of Universal-Investment Group" comprises Michael Reinhard, "Chief Executive Officer"; Stephan Scholl, "Chief Operational Officer"; Ian Lees, "Chief Financial Officer"; Frank Eggloff, "Chief Regulatory Officer", and Katja Müller, "Chief Customer Officer".

Almagest Wealth Management SA: €150K Fine

January 15, 2021
Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €150,000 on Almagest Wealth Management SA for regulatory breaches. Editor's Note: Research by OffshoreAlert showed that, in the Luxembourg Trade and Companies Register, the representatives of Almagest Wealth Management SA are identified as Olivier Assa, Philippe Donjon de Saint Martin, and Jihad Taleb, while the company's "Managing Partner" has been identified as Benjamin Benedetto in news articles.

Praefinium: Reprimand

October 30, 2020
Public Announcement by the Luxembourg CSSF that it has reprimanded investment fund Praefinium for a regulatory breach.

Fonds AAA Sàrl: Reprimand

October 30, 2020
Public Announcement by the Luxembourg CSSF that it has reprimanded "alternative investment fund manager" Fonds AAA S.à r.l. for a regulatory breach.

Opportunité Luxembourg SA: €30,000 Fine

October 23, 2020
Public Announcement by the Luxembourg CSSF that it has imposed a fine of €30,000 on Opportunité Luxembourg S.A. for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Luxembourg Business Register showed that the managers of Opportunité Luxembourg S.A. are Jacques-Antoine de Geffrier, of Luxembourg; Serge Fouchet, of France, and Catherine Félicie Wajsman, of Luxembourg.

Candriam Luxembourg: €10,000 Fine

September 25, 2020
Public Announcement by the Luxembourg CSSF that it has imposed a fine of €10,000 on Candriam Luxembourg, formerly Dexia Equities L, an investment fund manager, for regulatory breaches.

Notz, Stucki Europe S.A.: Warning

September 24, 2020
Public Statement by the Luxembourg CSSF that it has imposed "a warning on the investment fund manager Notz, Stucki Europe S.A." for regulatory breaches.

Quamvest S.A.: €23K Fine

September 24, 2020
Public Statement by the Luxembourg CSSF that it has imposed a fine of €23,000 on Quamvest S.A. for regulatory breaches.

FAB CBO 2003-I BV: €10K Fine

August 20, 2020
Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €10,000 on FAB CBO 2003-I B.V., of the Netherlands, for failure to publish its 2019 annual report "within the required time limit"
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