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Article by Yves Maas, the newly elected Chairman of the ABBL on the future challenges and opportunities for the Luxembourg financial centre.
Since the collapse of Lehman Brothers on that fateful autumn day in 2008, the global financial industry has undergone a paradigm shift. The financial sector will have to deal with the post-financial crisis regulatory fallout for many years to come. It is the role of the ABBL to anticipate regulatory developments, help shape regulation where possible and guide its members in preparing and implementing all these new rules.
The implementation of new regulations, and particularly the costs involved, remains one of the biggest challenges for our sector at the moment. Investments into compliance functions, in IT...
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