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Banking law


Focusing on Funds - AIFMD pre-marketing proposals

Focusing on Funds - AIFMD pre-marketing proposals
25/10/2018

This Focusing on Funds update looks at the hot topic of funds marketing and proposals for a pre-marketing regime for alternative investment funds. 

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Money Market Funds | CSSF FAQ

Money Market Funds | CSSF FAQ
22/10/2018

The CSSF published its first Frequently Asked Questions (“FAQ”) concerning the Money Market Fund Regulation (“MMFR”) on August 28th 2018. This FAQ explains some of the key aspects of the regulation which are relevant to money market funds (“MMFs”) and their managers.

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Fallback benchmarks for main IBORs: consultation published by ISDA

Fallback benchmarks for main IBORs: consultation published by ISDA
19/10/2018

ISDA, the International Swaps and Derivatives Association, is planning to amend certain “floating rate options” in the 2006 ISDA Definitions in order to include fallback benchmarks that would apply upon the permanent discontinuation (based on defined triggers)

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AML Law on information from fiduciaries

AML Law on information from fiduciaries
09/10/2018

The Law of 10 August 2018 relating to the information to be obtained and held by fiduciaries transposes into national law the provisions under Article 31 of the 4th EU Directive on anti-money laundering and terrorist financing ("AML/TF") (Directive (EU) 2015/849 ).

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Access to AML information on taxpayers by Luxembourg tax authorities

Access to AML information on taxpayers by Luxembourg tax authorities
20/09/2018

On 10 August 2018 new provisions entered into force in national law to allow the Luxembourg tax authorities to have access to information on taxpayers for anti-money laundering (“AML”) purposes (the “Law”)

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New CSSF Circular on substance requirements of fund management companies in Luxembourg

New CSSF Circular on substance requirements of fund management companies in Luxembourg
05/09/2018

The Commission de Surveillance du Secteur Financier (“CSSF”) has issued today circular 18/698 concerning (i) the approval process and organisation of Luxembourg fund management companies and (ii) specific requirements applicable to both fund management companies and transfer agents in the fight against money laundering and terrorist financing.

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Proposals to Strengthen ESMAs Oversight over Delegation. Why you Should Review your Delegation Arrangements Now.

Proposals to Strengthen ESMAs Oversight over Delegation. Why you Should Review your Delegation Arrangements Now.
03/09/2018

At the end of September 2017, the European Commission published its 283-page Review of the European Supervisory Authorities1 (ESAs). It is concerned with a desire to ensure that the regulation of financial markets keeps up with their continuing integration,

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New requirements for fiduciary arrangements: setting up by their fiduciary agent of an internal file on their beneficial owners

New requirements for fiduciary arrangements: setting up by their fiduciary agent of an internal file on their beneficial owners
23/08/2018

Bill of law 7216A - New requirements for fiduciary arrangements: setting up by their fiduciary agent of an internal file on their beneficial owners

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Prospectuses | Draft Law

Prospectuses | Draft Law
24/07/2018

On June 29th 2018, the Chamber of Deputies of the Grand-Duchy of Luxembourg issued a draft law 7328 on prospectuses (the “Draft Law”) for the purposes of implementing Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “New Prospectus Regulation”).

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5th AML Directive - Key aspects

5th AML Directive - Key aspects
25/06/2018

The new directive (Directive EU 2018/843) on the prevention of the use of the financial system for the purposes of money laundering or terrorism financing (the “5th AML Directive”) amending the 4th AML Directive was published in the Official Journal of the European Union on 19 June 2018

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