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Droit financier


Liquidity Stress Testing: the CSSF applies the ESMA Guidelines

Liquidity Stress Testing: the CSSF applies the ESMA Guidelines
05/10/2020

The Luxembourg supervisory authority for the financial sector, the CSSF, issued on 29 September 2020 a new circular regarding the ESMA Guidelines on liquidity stress testing in UCITS and AIFs, that entered into force on 30 September 2020.

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Luxembourg becomes first European country to launch a sustainability bond framework

Luxembourg becomes first European country to launch a sustainability bond framework
21/09/2020

The Luxembourg Ministry of Finance announced on 2 September 2020 that the country had become the first European country to adopt a reference framework for sustainable bonds (the Sustainability Bond Framework).

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New /Amended AML-CTF regulations for Luxembourg's insurance, financial and asset management sectors

New /Amended AML-CTF regulations for Luxembourg's insurance, financial and asset management sectors
28/08/2020

On 20 August 2020, two important texts from an anti-money laundering and counter-terrorism financing (“AML-CTF”) perspective were published:

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"No-deal" Brexit scenario: overview and implications for UK AIFMs operating in Luxembourg
17/08/2020

Many UK firms currently carry on cross-border services in Luxembourg in reliance on an EU financial services passport (e.g. under the Alternative Investment Fund Managers Directive ("AIFM Directive") or the Markets in Financial Instruments Directive ("MIFID")).

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Benelux Regulators to Apply EIOPA Guidelines on Outsourcing to Cloud Service Providers by Insurance and Reinsurance Undertakings

Benelux Regulators to Apply EIOPA Guidelines on Outsourcing to Cloud Service Providers by Insurance and Reinsurance Undertakings
14/08/2020

On 24 April 2020, the European Insurance and Occupational Pensions Authority (EIOPA) issued new guidelines on outsourcing to cloud service providers (the "Guidelines") which apply to insurance and reinsurance undertakings

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UCITS can no longer invest in loans

UCITS can no longer invest in loans
12/08/2020

The CSSF, Luxembourg’s supervisory authority for the financial sector, has announced that Luxembourg-domiciled UCITS may no longer invest in loans

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New bill of law allowing for issuance of dematerialised securities issued on the blockchain with central account keepers

New bill of law allowing for issuance of dematerialised securities issued on the blockchain with central account keepers
11/08/2020

On 27 July, the Luxembourg parliament published a new bill of law n° 7637 (the “Bill of Law”) that will amend the following two laws:

 

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Issuance of dematerialised securities using blockchain technology – New draft legislation published!

Issuance of dematerialised securities using blockchain technology – New draft legislation published!
31/07/2020

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”)

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CSSF provides further guidance on money laundering indicators in the collective investment sector

CSSF provides further guidance on money laundering indicators in the collective investment sector
28/07/2020

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 

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Luxembourg establishes a register of fiducies and trust

Luxembourg establishes a register of fiducies and trust
24/07/2020

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)

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