New FAQS Complementary to FAQs on Investment in Virtual Assets - Further to the general publications by the Financial Sector Supervisory Commission (CSSF) in 2020 and 2021 and two sets of frequently asked questions (FAQs)...more
The financial services regulations relating to outsourcing by Luxembourg-headquartered financial institutions have been significantly simplified by the introduction of the Commission de Surveillance du Secteur Financier...more
On June 15, the Commission de Surveillance du Secteur Financier (CSSF) updated its Q&A on the statuses of Professionals of the Financial Sector (PFS) with respect to professionals performing lending operations, by giving...more
Regulation (EU) 2019/2088 of 27 November, 2019 on sustainability-related disclosures in the financial services sector, as amended by Regulation (EU) of 18 June, 2020 on the establishment of a framework to facilitate...more
The Luxembourg government and the CSSF recently have taken a number of measures to combat money laundering and terrorist financing. In other developments: the current Luxembourg Brexit laws will be rendered inapplicable by...more
The Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF), has published guidance regarding procedures to be followed by non-EEA firms when providing certain investment services in...more
The Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF), and the Luxembourg government recently have taken measures to prepare for Brexit. In other developments, the Law of the...more
On 26 March 2019, the Luxembourg Parliament adopted the first few of a series of Brexit laws, including bill of law n°7401. In the event of a no deal Brexit, this bill will entrust the Luxembourg supervisory authorities for...more
The Luxembourg government has proposed legislation (Draft Bill), which would allow UK financial service providers to continue rendering certain services in Luxembourg for a period of up to 21 months after the date when the UK...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
Luxembourg recently has taken a number of actions in connection with the transposition or implementation of various EU directives and regulations, respectively, into national law. The Luxembourg government deposited a bill of...more
The Luxembourg financial regulator has published a circular on UCITS depositaries, clarifying the organisational arrangements and other rules provided by Luxembourg’s UCI Law and the EU UCITS Regulation. The circular...more
The Luxembourg financial regulator, the Commission de Surveillance du Secteur Financier (CSSF) published on 9 June 2016 an updated version of its FAQ concerning the Luxembourg law of 12 July 2013 on alternative investment...more
The law that transposed UCITS V1 into Luxembourg law (UCITS V Law) entered into force on 1 June 2016. Among other matters, the UCITS V Law: (i) implements a depository regime based upon – but more stringent than – the AIFMD...more
The Luxembourg government recently launched the “reserved alternative investment fund” – a new form of Luxembourg AIF that does not require prior approval from the Luxembourg supervisory authority, the CSSF. In other...more