News & Analysis as of September 22, 2024

European Union › Luxembourg

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Amendments to Luxembourg laws to implement MiCAR and TFR: key takeaways and impact on VASPs

A&O Shearman on 7/1/2024

On 21 May 2024, a bill of law n° 8387 was introduced before the Luxembourg Parliament. Its objective is to amend several pieces of Luxembourg legislation to operationalise various European regulations, in particular...more

Proposed Amendments to Pillar Two Law in Luxembourg

Goodwin on 6/26/2024

On 12 June 2024, Luxembourg published a bill of law amending the law of 22 December 2023 (the Pillar Two Law[1]) implementing EU directive no. 2022/2523, largely known as the “EU Minimum Tax Directive” or “Pillar Two...more

Integrating Sustainability: Luxembourg's Legal Advancements with the CSRD

A&O Shearman on 4/5/2024

On the 2nd of April, a pivotal legislative proposal, bill of law number 8370, was introduced in the Luxembourg Parliament to transpose the Corporate Sustainability Reporting Directive (CSRD) into national law. The CSRD will...more

ELTIF 2 Chancen und Defizite

King & Spalding on 2/7/2024

BaFin veröffentlicht einen FAQ zur überarbeiteten ELTIF-Verordnung - Am 1. Februar 2024 hat die Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) ein FAQ zur am 10. Januar 2024 in Kraft getretenen, überarbeiteten...more

What DORA Means for Fund Managers

Goodwin on 1/29/2024

Q: What is DORA? “DORA” stands for the Digital Operational Resilience Act, an EU regulation that creates a new framework for the EU financial sector with regard to information and communications technology (ICT)....more

CRD VI cross-border rules take shape

A&O Shearman on 1/26/2024

Final provisions on cross-border banking services in the EU published - CRD VI will bring in uniform minimum prudential requirements for third country branches providing banking services in the EU and, more importantly,...more

Luxembourg Employment Law: Top 10 Topics for 2024

A&O Shearman on 1/16/2024

Please find below a concise summary of our top 10 topics to watch out for in 2024, with some practical tips and recommendations on how to prepare and respond effectively to these challenges and opportunities....more

Luxembourg Modernises Its Insolvency Legislation

K&L Gates LLP on 11/6/2023

On 19 July 2023, the parliament of the Grand Duchy of Luxembourg (Luxembourg) passed bill no. 6539A into law (the New Insolvency Law), marking a significant milestone in the movement to modernise and enhance the...more

Luxembourg Investment Funds - A practical handbook on fund vehicles in Luxembourg

White & Case LLP on 11/3/2023

Luxembourg has developed a significant expertise in collective asset management and structuring of investment funds, and the Luxembourg "investment toolbox" provides a broad array of options in respect of fund regimes and...more

Luxembourg Reform of Restructuring Procedures

White & Case LLP on 11/2/2023

On 1st November 2023, the new Luxembourg law of 7 August 2023 on the continuation of businesses and modernisation of insolvency law (the "Law") enters into force. This long-awaited reform implements Directive 2019/1023...more

New Luxembourg Bankruptcy Law Enhances Luxembourg’s Restructuring Framework

Dechert LLP on 11/2/2023

One of the two main objectives of the Law is to implement the 2019/1023 Directive, which itself aims to foster the proper functioning of the EU internal market and remove hindrances to the exercise of fundamental rights and...more

Pillar Two Implementation in Luxembourg

Goodwin on 10/26/2023

On 4 August 2023, Luxembourg published a bill of law (the “Bill”) to transpose the EU directive no. 2022/2523 largely known as the “EU Minimum Tax Directive” or “Pillar Two Directive”, ensuring a minimum global Effective Tax...more

Luxembourg case law briefing – corporate law highlights - 2023 Edition

A&O Shearman on 10/18/2023

We are very pleased to present the third edition of our Luxembourg corporate law-focused case law briefing. In this edition, we are focusing on the 2022 calendar year rulings we identified to be the most relevant for...more

Hiring third-country nationals in Luxembourg: the new law of 7 August 2023 in a nutshell

A&O Shearman on 10/2/2023

If you are a Luxembourg employer wishing to hire a third-country national – i.e. a person who is not a citizen of the European Union or who is not entitled to the European Union's freedom of movement (hereinafter a “TCN”) –...more

A U.S. View on the UPC – Part 6: Appeals

Haug Partners LLP on 9/19/2023

On June 1, 2023, the new European Unified Patent Court (UPC) opened its doors, and enforcement of European patents in (currently) 17 contract member states is now possible with one action. This series of articles – directed...more

Half an hour for a bifurcation: UPC Central Division rejects preliminary objection after first oral hearing

A&O Shearman on 8/25/2023

The decision concerns the time of filing and admissibility of a revocation action at the Central Division when a parallel infringement action is filed at a local division (Art. 33(4) UPCA). Art 33(4) UPCA states that...more

Luxembourg Adopts New Foreign Direct Investment Screening Regime

Jones Day on 8/22/2023

In Short - The Background: Luxembourg has introduced a new foreign direct investment regime with a suspensory mandatory notification requirement in relation to investments in a broad range of sectors....more

Modernization of Luxembourg Fund Products: Enhancing the Investment Fund Toolbox

K&L Gates LLP on 8/8/2023

With the recent entry into force of the law of 21 July 2023 (the Modernization Law) on 28 July 2023, Luxembourg significantly modernizes its investment fund toolbox by introducing several amendments to existing laws governing...more

New law modernising Luxembourg investment funds takes effect

A&O Shearman on 7/31/2023

On 28 July 2023, the law of 21 July 2023, which modernises the laws governing UCITS, Part II UCIs, SIFs, SICARs, RAIFs and Luxembourg asset managers, enters into force (the Law). ...more

Luxembourg implements the European digitalisation directive

Hogan Lovells on 7/28/2023

The Luxembourg law of 7 July 2023 (the “Digitalisation Law”), published on 18 July 2023 in the Luxembourg official gazette (Mémorial A), transposes Directive (EU) 2019/1151 of the European Parliament and of the Council of 20...more

Act Modernizing Luxembourg Fund Product Laws and AIFM Act Has Been Published

Dechert LLP on 7/26/2023

On 11 July 2023, the Luxembourg Parliament adopted bill of law n°8183 which amends five existing Luxembourg laws relating to alternative investment funds (“AIFs”) and alternative investment fund managers (“AIFMs”), namely the...more

Luxembourg adopts insolvency reform: new restructuring options to complete the existing Luxembourg toolkit

A&O Shearman on 7/21/2023

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

Work-life balance: new extraordinary leaves and flexible work arrangements for employees in Luxembourg

A&O Shearman on 7/17/2023

The work-life balance of parents and caregivers is at the heart of a new law (hereafter the Law) that has just been passed by the Luxembourg Parliament. The Law (deriving from bill n°8016), which transposes the European...more

English Court Thwarts Spain’s Latest Attempt to Resist Enforcement of ECT Awards

Jenner & Block on 6/21/2023

Some readers will be familiar with the many claims made against Spain for the alleged violation of its obligations to foreign investors under the Energy Charter Treaty (the ECT). In May 2023, the English Commercial Court...more

New FDI screening law in Luxembourg: what non-EEA investors need to know before investing in a critical sector

A&O Shearman on 6/20/2023

Do you plan to invest in a Luxembourg entity that operates critical activities, such as energy, transport, health or communications in Luxembourg? If yes, you may need to get approval from the Ministry of Economy first. Here...more

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