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Financial law


Draft Law 7349 – concerning ELTIF, EuVECA and EuSEF and amending the RAIF Law

Draft Law 7349 – concerning ELTIF, EuVECA and EuSEF and amending the RAIF Law
12/07/2019

Draft Law No. 7349 was adopted by the Luxembourg Parliament on 11 July 2019 (the “Law”) and implements into domestic law certain provisions of the following regulations:

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CSSF is looking at the impact of the PRIIPs Regulation on Luxembourg-regulated investment funds

CSSF is looking at the impact of the PRIIPs Regulation on Luxembourg-regulated investment funds
11/07/2019

On 1 July 2019, the CSSF issued Press Release 19/28 (Communication regarding PRIIPs assessment) (the “Press Release”) whereby the CSSF requires all SIFs, Part II UCIs and SICARs

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EMIR Refit – Key Changes

EMIR Refit – Key Changes
27/06/2019

On 28 May 2019, EMIR Refit, the Regulation (EU) 2019/834 of 20 May 2019 amending Regulation (EU) 648/2012, was published in the Official Journal of the European Union. The date of entry into force is 17 June 2019.

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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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ESMA updates AIFMD and UCITS Q&A

ESMA updates AIFMD and UCITS Q&A
11/06/2019

The European Securities and Markets Authority (ESMA) has published and updated version of its questions and answers (Q&A) documents related to the application of the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for the Collective Investment in Transferable Securities (UCITS ) Directive.

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Third country firms providing investment services on a cross-border basis – challenging times

Third country firms providing investment services on a cross-border basis – challenging times
31/05/2019

One of the consequences of the implementation of MiFID II into Luxembourg law is the creation of a new regime for third country firms providing investment services. 

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CSSF issues new guidance on the AML/CFT Investment Fund Questionnaire

CSSF issues new guidance on the AML/CFT Investment Fund Questionnaire
30/05/2019

On Thursday 23 May 2019, the Luxembourg Supervisory Authority of the Financial Sector (Commission de Surveillance du Secteur Financier or CSSF) published guidance in relation to the online anti-money laundering and combatting the financing of terrorism (AML/CFT) template questionnaire

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MiFID 2 third country access: the Luxembourg temporary regime now clarified by the CSSF

MiFID 2 third country access: the Luxembourg temporary regime now clarified by the CSSF
26/04/2019

On 12 April 2019, the CSSF released its Circular letter 19/716 on the provision in Luxembourg of investment services or performance of investment activities and ancillary services in accordance with Article 32-1 of the law of 5 April 1993 on the financial sector, as amended (the “LFS”).

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News & Analysis: Luxembourg Financial Sector Amendments for a No-Deal Brexit

News & Analysis: Luxembourg Financial Sector Amendments for a No-Deal Brexit
25/04/2019

On 11 April 2019, two laws dated 8 April 2019 were published in the Official Journal that make amendments to the Luxembourg laws governing various aspects of financial services to ensure continuity in the event of a no-deal exit 

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