GAM (LUXEMBOURG) S.A.

• LiftedCommission de Surveillance du Secteur Financier (CSSF)

  Debarment

  In this state since

  12 Sept 2026

  Designated

  22 Sept 2021

  Reason given

  En date du 22 septembre 2021, en application des dispositions de l’article 148, paragraphe 4, point e) de la loi modifiée du 17 décembre 2010 concernant les organismes de placement collectif (la « Loi ») et en tenant compte des dispositions de l’article 149bis de ladite Loi, la CSSF a prononcé une amende d’ordre d’un montant de 48.500 EUR à l’encontre du gestionnaire de fonds d’investissement GAM (Luxembourg) S.A. (le « Gestionnaire »), soumis aux dispositions du chapitre 15 de la Loi et autorisé en tant que gestionnaire de fonds d’investissement alternatifs conformément aux dispositions de la loi modifiée du 12 juillet 2013 relative aux gestionnaires de fonds d’investissement alternatifs. L’amende d’ordre a été prononcée sur base des dispositions de l’article 148, paragraphe 2, points g) et j), k) et n) de la Loi suite à un contrôle sur place effectué auprès du Gestionnaire au cours duquel la CSSF a identifié des manquements ponctuels aux dispositions de la Loi relatives aux exigences générales en matière de procédures et d’organisation, en matière de délégation de fonctions, de respect des règles de conduite ainsi qu’aux exigences en matière de processus de gestion des risques. Afin de déterminer le montant de l’amende d’ordre, la CSSF a dûment pris en considération les actions correctrices déjà entreprises par le Gestionnaire pour pallier les déficiences constatées, ainsi que celles qu’il s’est engagé à mettre en place. [original (French)] On 22 September 2021, pursuant to Article 148(4)(e) of the amended Law of 17 December 2010 relating to undertakings for collective investment (the “Law”), and taking into account Article 149a of the said Law, the CSSF has imposed an administrative fine amounting to EUR 48,500 on the investment fund manager GAM (Luxembourg) S.A. (the “Manager”), subject to Chapter 15 of the Law and authorised as alternative investment fund manager according to the provisions of the amended Law of 12 July 2013 on alternative investment fund managers. The administrative fine has been imposed on the basis of Article 148(2)(g), (j), (k) and (n) of the Law as a result of an on-site inspection of the Manager, during which the CSSF has identified some isolated failures to comply with the provisions of the Law relating to general requirements on procedures and organization, the delegation of functions, the compliance with rules of conducts and the requirements regarding the risk management processes. In determining the amount of the administrative fine, the CSSF has duly taken into consideration the remedial actions already undertaken by the Manager in order to address the deficiencies identified, as well as those the Manager is committed to implementing.

  Document

  The publisher's document (https://registers.esma.europa.eu/publication/details?core=esma_registers_sanctions&docId=sn10506)

  Stated by

  ESMA Sanctions Register

  First recorded here

  12 Sept 2026

  Listing id

  10506

• In forceCommission de Surveillance du Secteur Financier (CSSF)

  UCITS

  In this state since

  12 Sept 2026

  Designated

  22 Sept 2021

  Reason given

  En date du 22 septembre 2021, en application des dispositions de l’article 148, paragraphe 4, point e) de la loi modifiée du 17 décembre 2010 concernant les organismes de placement collectif (la « Loi ») et en tenant compte des dispositions de l’article 149bis de ladite Loi, la CSSF a prononcé une amende d’ordre d’un montant de 48.500 EUR à l’encontre du gestionnaire de fonds d’investissement GAM (Luxembourg) S.A. (le « Gestionnaire »), soumis aux dispositions du chapitre 15 de la Loi et autorisé en tant que gestionnaire de fonds d’investissement alternatifs conformément aux dispositions de la loi modifiée du 12 juillet 2013 relative aux gestionnaires de fonds d’investissement alternatifs. L’amende d’ordre a été prononcée sur base des dispositions de l’article 148, paragraphe 2, points g) et j), k) et n) de la Loi suite à un contrôle sur place effectué auprès du Gestionnaire au cours duquel la CSSF a identifié des manquements ponctuels aux dispositions de la Loi relatives aux exigences générales en matière de procédures et d’organisation, en matière de délégation de fonctions, de respect des règles de conduite ainsi qu’aux exigences en matière de processus de gestion des risques. Afin de déterminer le montant de l’amende d’ordre, la CSSF a dûment pris en considération les actions correctrices déjà entreprises par le Gestionnaire pour pallier les déficiences constatées, ainsi que celles qu’il s’est engagé à mettre en place. [original (French)] On 22 September 2021, pursuant to Article 148(4)(e) of the amended Law of 17 December 2010 relating to undertakings for collective investment (the “Law”), and taking into account Article 149a of the said Law, the CSSF has imposed an administrative fine amounting to EUR 48,500 on the investment fund manager GAM (Luxembourg) S.A. (the “Manager”), subject to Chapter 15 of the Law and authorised as alternative investment fund manager according to the provisions of the amended Law of 12 July 2013 on alternative investment fund managers. The administrative fine has been imposed on the basis of Article 148(2)(g), (j), (k) and (n) of the Law as a result of an on-site inspection of the Manager, during which the CSSF has identified some isolated failures to comply with the provisions of the Law relating to general requirements on procedures and organization, the delegation of functions, the compliance with rules of conducts and the requirements regarding the risk management processes. In determining the amount of the administrative fine, the CSSF has duly taken into consideration the remedial actions already undertaken by the Manager in order to address the deficiencies identified, as well as those the Manager is committed to implementing.

  Document

  The publisher's document (https://registers.esma.europa.eu/publication/details?core=esma_registers_sanctions&docId=sn10506)

  Stated by

  ESMA Sanctions Register

  First recorded here

  12 Sept 2026

  Listing id

  10506

No ownership verdict was on file for this company on 24 October 2026.

As recorded by the assessment reading taken on 12 September 2026, 19:14 UTC, the newest on or before the date. Only “checked, not found” means a source was read in full and held nothing for the company.

Where the company is registered or connected

• LU: registered here

  No company register for this jurisdiction has been connected to this system, and none has been examined. No register here states who owns its companies.

• Whether each listing was in force is rebuilt from what was recorded here: when it was first read, when a source stopped or resumed carrying it, and when its published term ended. A listing in force at an authority before this system first read it is shown from that first read.
• No ownership verdict is kept for this company. Verdicts are kept for companies registered where shareholders are read here: Estonia, Latvia and Poland.

For each source behind this file, the newest read made on or before the date: the version of it that stood.

• ESMA Sanctions Register

  Read on 23 October 2026. No date from the publisher is read for this file, so its age is not known here. 845 records read.

Taken

12 September 2026, 19:14 UTC

Methodology

Version 4

Level

Medium

Score recorded

65 of 100

Digest

406762dfed9336883b227d71773ec0e089e055dfA fingerprint of everything the reading says. The same reading always has this digest, and any change in it gives another.

Reading id

3d820e98-e739-4d5c-9671-c7ef683d9e45

Address

https://apolika.com/entities/ffec7599-5bf4-4e6f-8f8b-585f74dae60b/evidence?as_of=2026-10-24The same address gives the same day's file tomorrow. What was recorded after the date is not in it.

As data

https://apolika.com/api/entities/ffec7599-5bf4-4e6f-8f8b-585f74dae60b/evidence?as_of=2026-10-24T19%3A44%3A22.031Z

Made

24 October 2026, 19:44 UTC