Parliament Adopts Law on Register of Beneficial Owners

Parliament has adopted the law of 13 January 2019 establishing a register of beneficial owners.

Read: The law in full on Parliament’s website (French)

Read: Our OnPoint

CSSF Publishes Joint Press Release with CBI for MMF Deadline 

The CBI and CSSF have issued a shared statement on their approach to MMF confirming that they no longer use the share cancellation mechanism (21 March 2019 instead of 21 January 2019).

Read: The press release

SFC and CSSF Sign MoU on Mutual Recognition of Funds

The CSSF issued press release 19/04 on 15 January 2019 confirming that they and the Securities and Futures Commission (SFC) have entered into a Memorandum of Understanding (MoU) on Mutual Recognition of Funds (MRF), which will allow eligible Hong Kong public funds and Luxembourg UCITS funds to be distributed in each other’s market through a streamlined process.

Read: The press release

Publication of CSSF Forms for Managers and Cross-Border Services

The CSSF has published a form to be used (i) by the members of the management body/governing body and by the conducting officers of investment fund managers to detail time commitments of professional activities and mandates performed and (ii) by fund managers to notify the provision of services and the establishment of a branch on a cross-border basis.

Read: The Cross-Border Forms here and here

Read: The Manager Forms here

CSSF Publishes White Paper on Artificial Intelligence 

The CSSF has published its white paper on artificial intelligence concerning the financial sector.

Read: The white paper

ALFI publishes Guidance Note on Depositary Aspects for Real Estate Funds 

ALFI has published a guidance note on depositary aspects of real estate funds in January 2019.

Read: The guidance