Law Firm ILN-telligence Podcast | Episode 38: Pierre Hurt, Lutgen & Associés | Luxembourg
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
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
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
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
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
On 11 July 2023, the Luxembourg Parliament voted with an absolute positive majority on the bill of law 8183 which was proposed by the Luxembourg Government on 24 March 2023. The bill of law 8183 is expected to come into law...more
On 9 March 2023, the Luxembourg Parliament adopted the Blockchain III Law. The Blockchain III Law – which was published on 17 March 2023 – amends, amongst others, the Financial Sector Law2 and the Financial Collateral Law....more
Executive Summary - On 27 July 2022, Luxembourg’s financial sector regulator (the CSSF) announced its intention to launch a data collection exercise in respect to the disclosures made in the precontractual documents of...more
The Cayman Islands has long been a leading investment funds jurisdiction, and the North American fund finance industry is relatively familiar with the key legal concepts arising on a fund financing involving Cayman Islands...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
Clarification changes in relation to the Luxembourg Act dated 5 August 2005 on financial collateral arrangements, as amended (the Luxembourg Collateral Act)....more
The Luxembourg law dated 5 August 2005 on financial collateral arrangements, as amended (the “Collateral Law”), has been tremendously successful in providing a framework for Luxembourg security interests, offering bankruptcy...more
Since 1 January 2021, certain corporate Luxembourg investment funds (i.e. Part II UCI, SIF and RAIF, as defined below) that hold real estate assets located in Luxembourg are subject to a special taxation, the so-called real...more
In the context of enhanced interest in digital financial services technologies, Luxembourg’s financial sector regulator (the CSSF) has recently published a white paper named “Distributed Ledger Technologies & Blockchain –...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
Luxembourg parliament has recently adopted two new laws to provide headroom to operating businesses and funds in respect of their accounting obligations. The extensions granted under these new laws will only apply to filings...more
Luxembourg parliament is considering two new bills which were introduced respectively on 26 and 27 March 2020 to provide headroom to operating businesses and funds in respect of their accounting obligations. Any extensions...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
Last year, investment fund managers (IFMs) were caught by surprise with the immediate application of Circular 17/654 on IT outsourcing relying on a cloud computing infrastructure (the Cloud Circular), but every cloud has a...more
In early August 2019, the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (the "CSSF"), confirmed in a press release that it had opened an online portal to allow UK firms currently using a financial...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