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
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
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,
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.
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.
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
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.
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”).
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”).
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.
