By a new law adopted on May 22, 2020 and published on May 29, 2020 (hereinafter the “Law”), the Luxembourg parliament decided to extend for three months the deadline for filing / publishing annual accounts, consolidated accounts and that reports relating thereto and the sanctions relating thereto with regard to directors / managers, as referred […]
Pierre-Alexandre Degehet, Partner at BSP, assisted by Kateryna Nevmerzhytska, Associate, has acted as Luxembourg counsel supporting ING Bank N.V. and a group of international banks on the successful closing of a US$500m sustainability-linked senior secured borrowing base financing to Geneva-based coffee trader Sucafina. The borrowing base facility was significantly oversubscribed and subsequently upsized to US$500 […]
The team led by Fabio Trevisan, Partner and Head of the Dispute Resolution department at BSP, and composed of Laure-Helene Gaicio-Fievez, Partner, together with Audrey Risser, Counsel, acting as Luxembourg counsel for the Central Bank of the Islamic Republic of Iran obtained a decision directly impacting the assets held by Clearstream and which will have […]
On 9 April 2021, the CSSF published Circular CSSF 21/769 regarding governance and security requirements for Supervised Entities (as defined below) to perform tasks or activities through Telework (as defined below) (“Circular 21/769”). Scope of Circular 21/769 Following the significant increase in Teleworking over the past year in Luxembourg (the number of resident teleworkers in […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Nick Procopenko of Your Luxembourg Partner has joined IR as our exclusive Corporate Services Member in Luxembourg. YLP S.à r.l. (société à responsabilité limitée), or “Your Luxembourg Partner”, is an independent corporate service provider which began by adhering to one principle, […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Luc Gerondal of Your Luxembourg Partner has joined IR as our exclusive Corporate Services Member in Luxembourg. YLP S.à r.l. (société à responsabilité limitée), or “Your Luxembourg Partner”, is an independent corporate service provider which began by adhering to one principle, […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Benjamin Chouraki of Your Luxembourg Partner. Benjamin has joined IR as our exclusive Corporate Services Member in Luxembourg. YLP S.à r.l. (société à responsabilité limitée), or “Your Luxembourg Partner”, is an independent corporate service provider which began by adhering to one […]
On 28 January 2021, ESMA updated its Questions and Answers (Q&As) relating to Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 .On the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (“Prospectus Regulation”) and to Commission Delegated […]
Foreward by Andrew Chilvers When the 5th Anti-Money Laundering Directive was introduced into law by the UK and EU in January 2020, for many professionals it was a much needed addition to legislation that would significantly help business transparency and combat money laundering. In essence, it was good for business and for public and professional […]
Why the latest directive on UBOs is critical to combat corporate crime When the 5th Anti-Money Laundering Directive was introduced into law by the UK and EU in January 2020, […]
Read moreData Transfer On 24 November 2020, the Commission de Surveillance du Secteur Financier (CSSF) published an updated version of its Frequently Asked Questions concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment schemes (the “UCITS FAQ”) and an updated version of its Frequently Asked Questions concerning the Luxembourg Law of 12 July 2013 on alternative investment […]
BACKGROUND On 3 April 2020, ESMA published its final guidelines on performance fees in investment funds – applicable to UCITS and certain types of AIFs (the “Guidelines”). As a reminder, the guidelines provide comprehensive guidance to fund managers when designing performance fee models for the funds they manage, including the assessment of the consistency between the performance […]
