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Banking law


CSSF provides further guidance on money laundering indicators in the collective investment sector

CSSF provides further guidance on money laundering indicators in the collective investment sector
28/07/2020

On 3 July 2020, the Luxembourg supervisory authority for the financial sector, the Commission de Surveillance du Secteur Financier (the “CSSF”), published a new circular letter n°20/744 

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Luxembourg establishes a register of fiducies and trust

Luxembourg establishes a register of fiducies and trust
24/07/2020

The Act of 10 July 2020 ("the Act") transposes into Luxembourg law the last part of the fourth Anti-money Laundering Directive (2015/849) as amended by the fifth Anti-money Laundering Directive (2018/843)

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Luxembourg law implementing a central register of beneficial owners of Luxembourg fiduciary arrangements published

Luxembourg law implementing a central register of beneficial owners of Luxembourg fiduciary arrangements published
20/07/2020

On 13 July 2020, the law implementing a central register of beneficial owners of Luxembourg fiduciary arrangements (the “Law”) as required under Article 31 of the 4th AML Directive (“AMLD IV”)

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Luxembourg adopts law on professional payment guarantees: enhanced contractual freedom and certainty

Luxembourg adopts law on professional payment guarantees: enhanced contractual freedom and certainty
17/07/2020

The legal framework for accessory guarantees (cautionnements) and autonomous guarantees (garanties autonomes) was a source of legal uncertainty given that, based on how the guarantee was written

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Introduction of a Luxembourg register of fiducies and trusts

Introduction of a Luxembourg register of fiducies and trusts
16/07/2020

On 1 July 2020, the Luxembourg parliament approved the bill of law n°7216B transposing Article 31 of EU Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing,

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New act on professional payment guarantees

New act on professional payment guarantees
15/07/2020

The law of 10 July 2020 on professional payment guarantees has just been published and will enter into force on 17 July 2020. It provides for the creation of a new type of payment guarantee (garantie professionnelle de paiement) under Luxembourg law 

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Luxembourg law on professional payment guarantees published

Luxembourg law on professional payment guarantees published
15/07/2020

Yesterday (13 July 2020), the law of 10 July 2020 regarding professional payment guarantees was published (the “Law”).

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Introduction of a new creditor-friendly instrument in the Luxembourg toolbox: the professional guarantee of payment

Introduction of a new creditor-friendly instrument in the Luxembourg toolbox: the professional guarantee of payment
14/07/2020

On 1 July 2020, the Luxembourg Parliament adopted a new law relating to professional payment guarantees (the “Law”) or garantie professionnelle de paiement in French.

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MiFID II: Third country (national) regime – a first list of

MiFID II: Third country (national) regime – a first list of "equivalent" jurisdictions and territorial scope clarification by the CSSF
10/07/2020

On 1st July 2020, the CSSF released its Circular 20/743, thereby partially amending Circular letter 19/716. On the same day, the CSSF also enacted Regulation CSSF 20-02, thereby setting up a first list of "equivalent" jurisdictions under the national third country regime

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CSSF publishes two important texts on the provision of investment services in Luxembourg by third country investment firms

CSSF publishes two important texts on the provision of investment services in Luxembourg by third country investment firms
06/07/2020

On 2 July 2020, the Commission de Surveillance du Secteur Financier (the “CSSF”) published two important texts for third country firms providing investment services or the carrying out of activities and ancillary services in Luxembourg:

 

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