The law dated 13 January 2019 on the register of beneficial owners has been published on 15 January 2019 in the Luxembourg Official Journal and shall enter into force on 1 March 2019 (the “New Law”).
Following the announcement of the UK government at the end of last year of its intention to introduce a temporary permissions regime (TPR) for inbound passporting EEA firms and funds,
On 13 November 2018, the EU and UK negotiators reached an agreement on the conditions for the withdrawal of the UK from the EU (the Withdrawal Agreement) and on 25 November, the EU and UK leaders approved the Withdrawal Agreement
Professionals subject to the law of 12 November 2004 relating to the fight against money laundering and terrorist financing, as amended (the AML Law) (the Professionals) should be aware of a few changes introduced by the law of 10 August 2018 reforming, among others, the organisation of the Luxembourg Financial Intelligence Unit (Cellule de Renseignement Financier, the FIU).
"Capital call" facilities (also known as "subscription line" facilities) are facilities made available to funds (often on a revolving credit basis and for general working capital purposes) which are secured against the uncalled capital commitments of the investors in the fund including:
This Focusing on Funds update looks at the hot topic of funds marketing and proposals for a pre-marketing regime for alternative investment funds.
By the Law of 22 June 2018 , the Luxembourg legislator introduced renewable energy covered bonds through a modification of the relevant provisions of the Law of 5 April 1993 on the financial sector, as amended ("LFS").
On 23 August, the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF), issued Circular 18/698 relating to the authorisation and organisation of investment fund managers incorporated under Luxembourg law (Circular).
By way of preamble and as a reminder, a depositary of a Luxembourg fund may currently fall under either (1) the regime of the UCITS Directive and Regulation(“UCITS Depositary Regime”), (2) the regime of the AIFM Directive and Regulation(“AIFM Depositary Regime”), or (3) the distinctive regime provided for by Luxembourg Law (“Luxembourg Depositary Regime”)
On 23 August 2018, CSSF released its new Circular 18/698 on the authorisation and organisation of Luxembourg investment fund managers (the Circular) replacing CSSF Circular 12/546 on authorisation of UCITS ManCos and is applicable with immediate effect.
