Investment Funds Update Europe: Legal and regulatory updates for the funds industry from the key asset management centres and primary European fund domiciles - Issue 2, 2018: Luxembourg

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Luxembourg Parliament Votes on New AML Legislation

The Luxembourg Parliament has voted in bill 7128 which implements certain provisions of the fourth anti-money laundering directive (Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC) into national law as the law of 13 February 2018. The new law was published on 14 February 2018 and amends, inter alia, the law of 12 November 2004 on the fight against money laundering and terrorist financing, as amended.

Read the law in full on the Luxembourg official gazette website (in French).

CSSF Circular to Clarify Changes Brought by MAR

The CSSF issued circular 18/679 in relation to the law of 11 January 2008 on transparency requirements for issuers to comply with changes brought by regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

Read the circular in full on the CSSF website (in French).

CSSF Issues Press Release on Global Situation of UCIs

The CSSF published a press release regarding the global situation of undertakings for collective investment at the end of December 2018.

Read the press release in full on the CSSF website (in French).

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

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