A Luxembourg investment fund manager has been fined almost €46,000 and given a formal warning for breaches of anti-money laundering laws, the country’s financial regulator said on Thursday.
The penalty was imposed on Zeus Asset Management on 28 March, but details were only released by the Commission de Surveillance du Secteur Financier (CSSF) in a statement on its website on Thursday.
It followed an on-site inspection carried out in early 2021, during which several breaches of laws requiring sound internal control procedures and anti-money laundering rules were identified, the CSSF said.
