The UK’s exit from the European Union is now postponed to 31 January 2020, and whilst there is still significant uncertainty regarding the occurrence of Brexit on that date, the CSSF set out a new deadline on 6 November 2019...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
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
Luxembourg has transposed MiFID II into its national law, albeit five months after the deadline for doing so. In other matters, the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF)...more
The Commission de Surveillance du Secteur Financier (CSSF) issued a circular on 23 August 2018 (Circular), which consolidates into one document the requirements for Luxembourg UCITS management companies, self-managed UCITS,...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
CSSF issues press release on approach to permissible investments by Luxembourg UCITS in non-UCITS ETFs - The CSSF clarified their position on deciding to take a more restrictive approach to permissible investments by...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 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