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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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The Luxembourg Register of Ultimate Beneficial Owners - Practical Guidelines

The Luxembourg Register of Ultimate Beneficial Owners - Practical Guidelines
28/02/2019

On 15 February 2019, a Grand Ducal Regulation on the registration requirements, administrative fees and access to information in the Luxembourg register of beneficial owners (the "REBECO Regulation") was adopted. The REBECO Regulation will enter into force on 1 March 2019.

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(Some) clarifications regarding the Register of BOs

(Some) clarifications regarding the Register of BOs
25/02/2019

(Some) clarifications regarding the Register of BOs: publication of the Grand-Ducal Regulation of 15 February 2019 on the modalities for registration, payment of the administrative fees and on the access to the information registered with the register of beneficial owners

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Luxembourg ratifies the Multilateral Instrument

Luxembourg ratifies the Multilateral Instrument
22/02/2019

On 14 February 2019, the Luxembourg parliament approved the bill of law to ratify the Multilateral Instrument (“MLI”) and introduce it into domestic law.

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