On 15 November 2023 the Commission de Surveillance du Secteur Financier (CSSF) imposed an administrative fine of EUR 200,000 on Garbe Logistic Management Company S.à r.l (Investment fund managers). The decision was published on 3 July 2024. The CSSF gives the ground as non-compliance with professional obligations related to the governance, the portfolio management function, the risk management function, the compliance function, the delegation monitoring, the internal audit, the valuation function, the IT and the voting rights process of the entity.
\nLegal basis: Law of 12 July 2013 on alternative investment fund managers.
\nDecision page, decision PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent.
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