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Droit bancaire


DAC6 and CRS deadlines extended

DAC6 and CRS deadlines extended
13/05/2020

On 8 May 2020, the European Commission released a directive proposal amending the EU Directive on Administrative Cooperation to address the urgent need for deferring certain time limits for the filing and exchange of information in the field of taxation due to the COVID-19 pandemic

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Changes to the anti-money laundering and counter-terrorism financing framework in 2020

Changes to the anti-money laundering and counter-terrorism financing framework in 2020
01/05/2020

The year 2020 is a year of changes for the Luxembourg anti-money laundering and counter-terrorism financing (“AML-CTF”) framework. In fact, Luxembourg has implemented Directive 2018/843 of the European Parliament

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Luxembourg’s new IBAN register: increased obligations for entities offering accounts and safe deposit boxes seem straightforward, assuming your data is under control

Luxembourg’s new IBAN register: increased obligations for entities offering accounts and safe deposit boxes seem straightforward, assuming your data is under control
30/04/2020

In line with the requirements of the 5th Anti-Money Laundering Directive, Luxembourg has introduced a centralized IBAN and safe-deposit box register. This creates new obligations for entities providing accounts and safe deposit boxes,

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Fighting money laundering and terrorist financing remains of paramount importance during the Coronavirus (COVID-19) crisis

Fighting money laundering and terrorist financing remains of paramount importance during the Coronavirus (COVID-19) crisis
22/04/2020

On 10 April 2020, the Commission de Surveillance du Secteur Financier (“CSSF”) published a new circular 20/740 on financial crime and anti-money laundering and counter-terrorism financing (“AML/CFT”) implications during the Coronavirus (COVID-19) pandemic.

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Luxembourg law on State guarantee for bank loans

Luxembourg law on State guarantee for bank loans
21/04/2020

The Luxembourg Parliament recently adopted a new law establishing a guarantee regime in favour of the economy within the framework of the COVID-19 pandemic.

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CSSF Disclosure of information (Transparency Law – MAR)

CSSF Disclosure of information (Transparency Law – MAR)
03/04/2020

The European Securities and Markets Authority (ESMA) issued on 27 March 2020 a public statement (the Statement) to promote coordinated action by National Competent Authorities regarding issuers’ obligations to publish periodic information f

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Coronavirus (COVID-19): Extension of CSSF reporting deadlines applicable to regulated entities

Coronavirus (COVID-19): Extension of CSSF reporting deadlines applicable to regulated entities
01/04/2020

On 30 March 2020, the Commission de Surveillance du Secteur Financier (the CSSF) issued an updated version of its CSSF FAQ COVID-19 on its website combining its communications and recommendations aiming to answer questions received from industry participants.

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Law of 25 March 2020 establishing a central data retrieval system for bank, payment accounts and safe-deposit boxes

Law of 25 March 2020 establishing a central data retrieval system for bank, payment accounts and safe-deposit boxes
01/04/2020

The law of 25 March 2020 establishing a central data retrieval system concerning IBAN accounts and safe-deposit boxes entered into force on 30 March 2020
(the “Central Register Law”). 

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Implementation of the 5th AML Directive into Luxembourg law: the last piece of the puzzle – Key aspects and changes of the law of 25 March 2020

Implementation of the 5th AML Directive into Luxembourg law: the last piece of the puzzle – Key aspects and changes of the law of 25 March 2020
31/03/2020

The law1 of 25 March 2020 implementing EU Directive 2018/8432 (the “5th AML Directive”) and amending the law of 12 November 2004 on the fight against money laundering and terrorism financing, as amended (the “2004 Law”) entered into force on 30 March 2020 (the “New Law”).

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New measures for Luxembourg investment funds in the context of COVID-19

New measures for Luxembourg investment funds in the context of COVID-19
27/03/2020

Considering the development of the COVID-19 crisis, a number of new measures and communications have been issued to the attention of the financial centre over the past days.

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