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By Christophe VANDENDORPE, Partner, Strategy and Transactions Leader and Kevin MERZOUGUI, Senior Manager, Strategy and Transaction, EY Luxembourg
The unveiling of the European Securities and Markets Authority’s (ESMA) findings on the Common Supervisory Action (CSA) on Valuation, and the subsequent recommendations as per the CSSF’s feedback report, this past July, have ignited intense discussions among market participants and valuation professionals in the Grand Duchy, which have been further amplified by the limited timeframe for investment managers to achieve compliance by 31 December 2023. The intensified scrutiny of valuation functions, arising from the alignment of ESMA and national supervisory authorities, is expected to place a considerable burden on...
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