The Luxembourg Parliament has adopted a draft law introducing new measures related to shareholders’ rights in listed companies. The main objectives are to encourage the long-term engagement of shareholders in listed companies, reinforce shareholders’ rights and increase the transparency of institutional investors, asset managers and proxy advisors.
On 15 July 2019, the CSSF published two press releases (19/33 and 19/34) directed at (i) UK firms and (ii) UCITS management companies and AIFMs, clarifying actions to be taken by UK entities in anticipation of a hard Brexit.
The Luxembourg Law of 13 January 2019 (the Law) implementing EU Directive 2015/849 requiring each EU member state to create a central register recording information on beneficial owners of corporate entities
More than the end of summer holidays, 31 August will mark this year the end of the six-month transitional period provided by the Register of Beneficial Owners (RBO) law.
Increased shareholder rights equal additional obligations for asset managers and intermediaries
The UBO Register Act, which entered into force on 1st March 2019, provides for a six-month transition period to submit information to the UBO Register.
The Luxembourg law dated 13 January 2019 (the RBO Law) created a register of beneficial owners (registre des bénéficiaires effectifs) (the RBE), with the aim to preserve
The 2019 tax reform implements the EU Anti-Tax Avoidance Directive (“ATAD”) and other Base Erosion and Profit Shifting (“BEPS”) related measures into Luxembourg tax law, including an amendment of the permanent establishment (“PE”) definition.
The 4th EU AML Directive1, as amended by the 5th EU AML Directive 2, 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.
As we mentioned in our January and March newsletters, Luxembourg has implemented a so-called Register of Beneficial Owners (“RBO”), which went into effect 1 March 2019.
