The Commission de Surveillance du Secteur Financier (the “CSSF”) has published on 9 October 2019 a press release in which it informs professionals subject to its supervision that the national risk assessment of money laundering and terrorist financing is available.
On 11 October 2019, the Luxembourg supervisory authority, the CSSF, issued a new press release in relation to the mandatory notification process in the context of Brexit to the attention of all UK managers of alternative investment funds ("AIFs") established in Luxembourg.
The transition from the Euro OverNight Index Average ("EONIA") to a new interest rate based exclusively on actual transactions – the euro short-term rate ("€STR") – has begun earlier today at the occasion of the first publication of €STR by the European Central Bank (“ECB”).
Banks and insurance companies have a growing number of accounts, safes, and insurance contracts which have been inactive for several years and which incur costs.
As environmental, social and governance (ESG) principles become increasingly mainstream and with asset managers under increasing pressure to embrace the trend, the number of fund launches featuring ethical and sustainable credentials has grown
Luxembourg is the largest European and the second largest worldwide fund domicile, due to its efficiency, flexibility and its professional, well-established and experienced fund industry having an excellent reputation
The European Central Bank’s (“ECB”) working group on euro risk-free rates published earlier this week its final recommendations regarding the EONIA to €STR Legal Action Plan subsequent to the third public consultation issued in this respect.
In the event of a so-called “Hard Brexit”, these firms and entities will be considered as “third-country entities” meaning they will lose the benefit from passporting rights and therefore be exposed to sanctions if they pursue regulated activities in Luxembourg without a proper authorisation.
On 2 July 2019, the Luxembourg parliament adopted the bill of law no. 7328 (the “New Prospectus Law”), implementing Regulation 2017/1129/EU of the European Parliament and of the Council of 14 June 2017
In this chapter we have tried to set out some of the key issues that a lender and its counsel need to consider when entering into a typical subscription (or capital call) finance transaction.
