With Parliamentary elections and a series of national votes in 2024, the EU is entering a pivotal period in its history. In this study, ‘Global business in a changing Europe’, we speak to corporate leaders across the world to...more
3/22/2024
/ Acquisitions ,
Artificial Intelligence ,
Asset Management ,
Capital Markets ,
Competition ,
Corporate Governance ,
Energy Sector ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Global Market ,
Greenhouse Gas Emissions ,
Investment ,
Investment Management ,
Investors ,
Merger Controls ,
Mergers ,
Net Zero ,
Regulatory Agenda ,
Risk Management ,
Sustainability
Directors’ duties and liabilities have always been at the forefront of corporate governance. It has become a hot topic in the wake of new regulations in the field of sustainability, which directly impact directors’...more
12/6/2023
/ Best Practices ,
Board of Directors ,
Corporate Governance ,
Corporate Liability ,
Corporate Management ,
Corporate Social Responsibility ,
Diversity ,
Duties & Responsibilities ,
Duty of Care ,
Environmental Social & Governance (ESG) ,
EU ,
Foreign Jurisdictions ,
New Regulations ,
Popular ,
Shareholders ,
Surveys ,
Sustainability
The Luxembourg parliament has adopted an act on business continuity, restructuring and the modernisation of the bankruptcy regime (the Insolvency Modernisation Act or IMA)....more
On 25 April 2023, the new Luxembourg framework for arbitration foreseen by the Law of 19 April 2023 modifying the New Civil Procedure Code and reforming the arbitration entered into force....more
For many years now, the EU has sought to create a collective redress mechanism across the EU market. Half of the EU member states have little or no such mechanism....more
By a decision rendered on 22 November 2022, the European Court of Justice (the Court) invalidates the provision of the anti-money laundering directive (AMLD) whereby the information on the beneficial owners of corporate and...more
Make sure that your policies and procedures are up-to-date.
A series of amendments were introduced into the amended act of 12 November 2004 on the fight against money laundering and terrorist financing (the AML Act 2004)...more
Credit institutions need to take into account climate-related and environmental risks. As the management of climate-related and environmental risks is a crucial element to ensure robust internal governance arrangements, the...more
On 23 December 2019, a resolution of 11 September 2018 of the European Parliament (the Parliament) on relationships between the EU and third countries concerning financial services regulation and supervision was published in...more
In light of the continued growth of residential housing prices and the impact on household debt, the Luxembourg parliament adopted a new act on 4 December 2019 (the Act) to grant specific intervention powers to Luxembourg’s...more
Following its June opinion on the possibility for national competent authorities to work with payment service providers and relevant stakeholders and agree on limited additional time for compliance with the strong customer...more
The CSSF press release 19/41 of 2 August 2019 informs UK firms, UCIs and/or their managers established in the UK (authorised under the UCITS Directive or AIFM Directive) having passported their services into Luxembourg that...more
As indicated in our previous e-alert? the Luxembourg register of beneficial owners (the Luxembourg RBE) will go live on 1 September 2019. If you are the director or manager of an entity registered with the Luxembourg trade...more
One of the consequences of the implementation of MiFID II into Luxembourg law is the creation of a new regime for third country firms providing investment services. This new regime is distinct from the regime that is in place...more
Since ensuring the quality of the prudential data reported to the CSSF is key to ensure adequate supervision of credit institutions both at national and EU levels, the CSSF now offers (from the reporting reference period...more
By its circular 19/718 (https://bit.ly/2LDTG2k), the CSSF has endorsed the Guidelines on complaints-handling for the securities (ESMA) and banking (EBA) sectors of 4 October 2018 (JC 2018 35) (the Guidelines)....more
As already mentioned in our previous e-Alert of 16 January 2019, payment service providers must provide, at least on an annual basis, statistical data on fraud relating to different means of payment, to the Luxembourg...more
The Grand Ducal regulation specifying certain practical requirements under the act establishing the register of beneficial owners (registre des bénéficiaires effectifs) (the RBE) was adopted on 15 February 2019 (the...more
The long awaited Luxembourg act of 13 January 2019 pertaining to the register of beneficial owners (the Act) has just been published in the Official Journal on 15 January 2019. It will enter into force on 1st March 2019....more
By a circular 18/704 of 17 December 2018 (the Circular 18/704), the Luxembourg regulator of the financial sector, the Commission de surveillance du secteur financer (the CSSF) formally endorsed the Guidelines of the European...more
Professionals subject to the law of 12 November 2004 relating to the fight against money laundering and terrorist financing, as amended (the AML Law) (the Professionals) should be aware of a few changes introduced by the law...more
Since our e-alert of 15 February 2018, the last three pieces of legislation aimed at formally transposing the fourth anti-money laundering directive (AMLD IV) in Luxembourg have been amended in the course of the legislative...more
While significant efforts have been deployed by investment firms and credit institutions offering investment services to comply with MiFID II product governance obligations, particular attention should also be paid to...more
Since our e-alert of 15 February 2018, the last three pieces of legislation aimed at formally transposing the fourth anti-money laundering directive;(AMLD IV) in Luxembourg have been amended in the course of the legislative...more
The provisions of the long awaited act of 27 February 2018 (the 2018 Act) which aim at smoothing (especially in the context of outsourcing arrangements) the professional secrecy regime that credit institutions, professionals...more