On 27 July 2020, the government has introduced a draft bill n°7637 in Parliament (the “Draft Bill”), which – if adopted – will modernise the law of 6 April 2013 on dematerialised securities, as amended (the “2013 Law”)
On 3 July 2020, the Luxembourg supervisory authority for the financial sector, the Commission de Surveillance du Secteur Financier (the “CSSF”), published a new circular letter n°20/744
The Act of 10 July 2020 ("the Act") transposes into Luxembourg law the last part of the fourth Anti-money Laundering Directive (2015/849) as amended by the fifth Anti-money Laundering Directive (2018/843)
In June 2020, the Financial Action Task Force (“FATF”) published a report which sets out the findings of the FATF on the 12-month review carried out by the latter on the implementation
This is the 11th episode of our COVID-19 webcast series. In this new episode, Mark Shaw gives a quick run-down of where we are in terms of financial services regulation, corporate law and tax. A look back over the various responses to the COVID-19 pandemic to see which are still applicable while we are in this period between the initial wave and our ultimate return to normality.
On 13 July 2020, the law implementing a central register of beneficial owners of Luxembourg fiduciary arrangements (the “Law”) as required under Article 31 of the 4th AML Directive (“AMLD IV”)
On 6 February 2020, the European Insurance and Occupational Pensions Authority (“EIOPA”) has published its final guidelines (the “EIOPA Guidelines”) on outsourcing to cloud service providers (“CSPs”)1.
On 1 July 2020, the Luxembourg parliament approved the bill of law n°7216B transposing Article 31 of EU Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing,
On 1st July 2020, the CSSF released its Circular 20/743, thereby partially amending Circular letter 19/716. On the same day, the CSSF also enacted Regulation CSSF 20-02, thereby setting up a first list of "equivalent" jurisdictions under the national third country regime
On 2 July 2020, the Commission de Surveillance du Secteur Financier (the “CSSF”) published two important texts for third country firms providing investment services or the carrying out of activities and ancillary services in Luxembourg:
