Law Firm ILN-telligence Podcast | Episode 38: Pierre Hurt, Lutgen & Associés | Luxembourg
New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new...more
Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the private equity funds domicile market. Most private equity fund structures are comprised of...more
Luxembourg is the largest investment fund center in Europe and the second largest in the world after the United States. It is therefore not surprising that Luxembourg is one of the main jurisdictions currently involved in a...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
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
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
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
In January 2019, we published a newsflash “Luxembourg Register of Beneficial Owners Has Arrived”1 on the publication of a law2 that established the Luxembourg Register of Beneficial Owners (Registre des Bénéficiaires...more
Following the Luxembourg parliament’s ratification of the new Luxembourg-UK double tax treaty (“DTT”) on 19 July 2023, the new DTT should take effect in 2024. The UK ratified the new DTT on 7 June 2022....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 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
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
This new law aims to further increase the competitiveness of the Luxembourg fund centre. The amendments affect the Law of 2010 on UCIs, the Law of 2007 on SIFs, the Law of 2004 on SICARs, the Law of 2013 on AIFMs and the Law...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
Luxembourg is the largest centre for funds in the world outside the United States (U.S.). The country offers much for Australian PE investors. We look at what makes it so attractive....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 Commission de Surveillance du Secteur Financier (CSSF) has launched a new web platform called eRIIS which stands for electronic Reporting of Information concerning Issuers of Securities providing issuers and persons...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
The Luxembourg law on securitisation dated 22 March 2004 (the “Securitisation Law”) has been tremendously successful in providing a flexible and secure framework for Luxembourg securitisation vehicles (“SVs”), attracting a...more
The security package for a subscription facility will typically include security over the uncalled capital commitments of a fund’s investors, including: (i) the right to make capital calls on investors in respect of their...more
The role of the various management/administrative players in a Luxembourg fund structure has become increasingly complicated, so this week Fund Finance Friday took the opportunity to talk with Antoine Fortier Grethen, head of...more
On 2 December 2021, the CSSF published a communiqué to remind financial market participants under the Taxonomy Regulation of certain Taxonomy Regulation pre-contractual disclosures required before 1 January 2022 and to offer...more
While most of the European Anti-Hybrid Rules took effect on 1 January 2020, the last anti-hybrid provision – targeting the reverse hybrid mismatch – will enter into force in relevant EU jurisdictions (such as Luxembourg and...more
Luxembourg is a centre of excellence for investment funds and the second-largest fund domicile in the world after the U.S. As such, it is a great place to observe the evolution of fund finance globally, since Luxembourg funds...more
On 17 June 2021, the Court of Justice of the European Union (CJEU) rendered two decisions about the application of the VAT exemption for management services provided in article 135 (1) (g) of the EU VAT Directive and...more