Luxembourg for Finance organized seminars in Brazil this week, gathering more than 300 participants in Sao Paulo and more than 100 participants in Rio de Janeiro.
The seminars, notably organized in partnership with ANBIMA, the Brazilian financial and capital markets association, were an opportunity to exchange views on recent regulatory developments in Brazil and Europe, respectively Luxembourg. During a dialogue between the Luxembourg and Brazilian regulators, CSSF and CVM, risk management was clearly identified as a top priority for the coming years.
Recent changes in fund regulation in Brazil will make it easier for Brazilian investors to invest abroad and diversify their portfolios. In this context, the CVM sees Luxembourg as a well-established and soundly regulated hub. Good cooperation and an ongoing dialogue between national regulators, as exemplified by the CSSF and CVM, are crucial when it comes to cross-border investments, notably to ensure sound risk management.
The solutions available to Brazilian asset managers in Luxembourg, both in terms of providing access for Brazilians to diversify their portfolios and invest abroad as well as targeting international investors to invest in Brazil, was the central topic of a panel featuring Luxembourg and Brazilian fund experts and practitioners. Luxembourg UCITS have notably become a byword in Brazil for regulated fund products with a global reach.
Indeed, as Eduardo Penido, Member of the Board of ANBIMA, noted, Luxembourg plays a key role in helping open up the Brazilian market.
Finally, the seminar also featured a panel of Portuguese-speaking experts from the Luxembourg financial centre discussing the international wealth management solutions the Grand Duchy has to offer. Luxembourg’s holistic wealth management ecosystem indeed provides Brazilian investors with an entire toolbox of fully compliant solutions to manage their international portfolios.