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.
Yesterday, a second draft law was released aiming at mitigating Brexit effects for the investment fund sector. It follows the first draft law on Brexit, which introduced among others a grand-fathering period of up to 21 months during which UK management companies of Luxembourg
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.
On 31 January 2019, the Luxembourg finance minister introduced a bill (n° 7401) on measures to be taken in relation to the financial sector in the event the United Kingdom (the "UK") leaves the European Union (the "EU") without reaching an agreement on the final terms of its withdrawal (the "Bill").
On 14 February 2019, the Luxembourg Parliament adopted Bill of law 7333 approving the text of the Multilateral Instrument ("MLI") signed in June 2017.
On 14 February 2019, the Luxembourg parliament approved the bill of law to ratify the Multilateral Instrument (“MLI”) and introduce it into domestic law.
Bill of Law 7363 was approved on 14 February 2019 – Luxembourg’s confirmation that securities can be held through DLT-like technologies, including blockchains!
?On 31 January 2019, the Ministry of Finance has submitted a bill of law to the Luxembourg Parliament (the Bill 7401) as regards the measures to be taken in relation to the Luxembourg financial sector in the case of the exit of the United Kingdom (UK) from the European Union (EU) without the conclusion of an agreement (Hard Brexit).
Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives
By a circular 18/704 of 17 December 2018 (the Circular 18/704), the Luxembourg regulator of the financial sector, the Commission de surveillance du secteur financer (the CSSF) formally endorsed the Guidelines of the European Banking Authority (EBA)
