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Banking law


Brexit: Mandatory notifications to the Luxembourg regulator for firms, UCIs and their managers established in the UK

Brexit: Mandatory notifications to the Luxembourg regulator for firms, UCIs and their managers established in the UK
16/07/2019

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.

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Ms. Mevlüde-Aysun Tokbag

New Luxembourg Prospectus Law
05/07/2019

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 

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Fund finance lending: a practical checklist

Fund finance lending: a practical checklist
20/06/2019

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. 

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Updated Q&As on UCITS Directive – New KIIDs disclosure guidance

Updated Q&As on UCITS Directive – New KIIDs disclosure guidance
26/04/2019

On 29 March 2019, ESMA clarified benchmark disclosure obligations for UCITS in an updated version of its Q&A on the application of the UCITS Directive.

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Luxembourg Banking & Finance Comparative Guide

Luxembourg Banking & Finance Comparative Guide
10/04/2019

NautaDutilh Avocats Luxembourg is an exclusive contributor to The Legal 500 Banking & Finance 2nd Edition Country Comparative Guide

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Circular CSSF 19/714: Application of the Cloud Circular to investment fund managers

Circular CSSF 19/714: Application of the Cloud Circular to investment fund managers
03/04/2019

On 27 March 2019, the CSSF issued a new Circular 19/714 (the “Circular”) in order to update its guidelines on the use of cloud computing infrastructure, as presented in its initial circular (the “Cloud Circular”) 17/654.

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Two new Brexit laws for the Luxembourg financial sector

Two new Brexit laws for the Luxembourg financial sector
01/04/2019

In anticipation of the United Kingdom leaving the European Union (or simply “Brexit” as it is more commonly referred to) without an agreement in place (the so-called “Hard Brexit” scenario), the Luxembourg legislator has taken swift action to facilitate a smooth transition

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Subscription Finance Cayman Islands - Luxembourg Analysis

Subscription Finance Cayman Islands - Luxembourg Analysis
22/03/2019

The Cayman Islands and Luxembourg are two of the world’s leading investment funds jurisdictions. As fund structures develop it is increasingly common to see structures that include Cayman Islands and Luxembourg vehicles.

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Register of beneficial owners: New Grand Ducal Regulation

Register of beneficial owners: New Grand Ducal Regulation
08/03/2019

The 4th EU AML Directive1, as amended by the 5th EU AML Directive2, requires each Member State of the EU inter alia to establish registers of beneficial owners (“RBO”) in respect of corporate and other legal entities incorporated within its territory.

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CJEU clarifies abuse and beneficial ownership concepts under the Parent Subsidiary and Interest/Royalty Directives

CJEU clarifies abuse and beneficial ownership concepts under the Parent Subsidiary and Interest/Royalty Directives
02/03/2019

On 26 February 2019 the Grand Chamber of the Court of Justice of the European Union (“CJEU”) rendered 2 important judgments regarding the non-application of the Parent Subsidiary Directive1 (“PSD”) and the Interest and Royalties Directive2 (“IRD”) in case of fraud or abuse, even in the absence of any domestic anti-abuse legislation.

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