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Bracing for Brexit: Luxembourg updates notification procedures for UK firms, UCIs and their managers in the event of a hard Brexit

Bracing for Brexit: Luxembourg updates notification procedures for UK firms, UCIs and their managers in the event of a hard Brexit
08/11/2019

On 15 July 2019, the CSSF published two press releases (19/331 and 19/342 ) directed at (i) UK firms and (ii) UCITS management companies and AIFMs3 , clarifying the actions to be taken by UK entities in anticipation of a hard Brexit 

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Mr. David Maria

The New Anti-fraud and Anti-abuse Assessment for Cross-border Conversions, Mergers and Divisions
25/10/2019

In April 2019 EU institutions approved the text of the new directive amending directive 2017/1132(1) by introducing procedures governing the cross-border conversions and divisions of limited-liability companies

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New CSSF communication in the context of Brexit for UK AIFMs

New CSSF communication in the context of Brexit for UK AIFMs
16/10/2019

The CSSF has issued on 11 October 2019 a new press release (Press Release 19/48) in the context of Brexit and related mandatory communication by UK alternative investment fund managers (AIFMs) of Luxembourg regulated or unregulated alternative investment funds (AIFs).   

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Luxembourg's national risk assessment of money laundering and terrorist financing is now available!

Luxembourg's national risk assessment of money laundering and terrorist financing is now available!
14/10/2019

The Commission de Surveillance du Secteur Financier (the “CSSF”) has published on 9 October 2019 a press release in which it informs professionals subject to its supervision that the national risk assessment of money laundering and terrorist financing is available. 

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New communication from the CSSF to UK managers in the context of a hard Brexit

New communication from the CSSF to UK managers in the context of a hard Brexit
14/10/2019

On 11 October 2019, the Luxembourg supervisory authority, the CSSF, issued a new press release in relation to the mandatory notification process in the context of Brexit to the attention of all UK managers of alternative investment funds ("AIFs") established in Luxembourg.

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IBORs: EONIA to €STR transition started today

IBORs: EONIA to €STR transition started today
03/10/2019

The transition from the Euro OverNight Index Average ("EONIA") to a new interest rate based exclusively on actual transactions – the euro short-term rate ("€STR") – has begun earlier today at the occasion of the first publication of €STR by the European Central Bank (“ECB”).

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Luxembourg to create new regime for dormant bank accounts and unclaimed insurance contracts

Luxembourg to create new regime for dormant bank accounts and unclaimed insurance contracts
02/10/2019

Banks and insurance companies have a growing number of accounts, safes, and insurance contracts which have been inactive for several years and which incur costs.

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ESG: how can clients avoid 'greenwashing'?

ESG: how can clients avoid 'greenwashing'?
01/10/2019

As environmental, social and governance (ESG) principles become increasingly mainstream and with asset managers under increasing pressure to embrace the trend, the number of fund launches featuring ethical and sustainable credentials has grown 

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Luxembourg parallel fund structures

Luxembourg parallel fund structures
17/09/2019

Luxembourg is the largest European and the second largest worldwide fund domicile, due to its efficiency, flexibility and its professional, well-established and experienced fund industry having an excellent reputation

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Upcoming EU interbank offered rates (“IBORs”) transition

Upcoming EU interbank offered rates (“IBORs”) transition
25/07/2019

The European Central Bank’s (“ECB”) working group on euro risk-free rates published earlier this week its final recommendations regarding the EONIA to €STR Legal Action Plan subsequent to the third public consultation issued in this respect.

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