Canada    FinTech Guide    Chapter 9    Luxembourg


9. Analytics and Research / Data Management / Risk Management
Luxembourg  Luxembourg

The social and political climate towards FinTechs in the business area of “Analytics and research/data management/risk management” is positive.



Legal Affairs


Depending on the services provided, the provisions, art. 29-1 to art. 29-6 of LSF, shall apply. Therefore, authorisation may be granted only to legal persons and shall be conditional on the production of evidence showing the existence of a share capital of not less than EUR 50,000, EUR 125,000 or EUR 370,000 depending on the services provided.

Costs for getting a license : EUR 15,000 to be paid to the CSSF.

Annual license : EUR 20,000 or EUR 30,000 depending on the activities, to be paid to the CSSF.



Economic Conditions


Risk management in banking and in investment funds is key in Luxembourg.



Miscellaneous


In today’s more complex business environment insurers bankers and asset managers are required to implement an increasing number of post-crisis regulations, from solvency II to the new Basel framework for bank regulation and the renewed emphasis on liquidity management.

Luxembourg has an outstanding strong expertise in risk management.



Contributing Authors

Felten & Associes

Bernard Felten
Luxembourg

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Chapter Index:


1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

Disclaimer:
The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 August 2019