On 26 November 2020, the CSSF issued Frequently Asked Questions regarding the Investor Compensation Scheme Luxembourg established by article 156 of the Law 18 December 2015 and governed by Part III, Title III of the same Law (the “FAQ” and the “Law”). The Investor Compensation Scheme or Système d’indemnisation des investisseurs Luxembourg (“SIIL”) covers clients of investment firms, banks, […]
On 8 December 2020, the CSSF issued a Communication regarding the introduction of a new eDesk module (the “Communication” and the “eDesk Module”), announcing the progressive digitalisation for the reception and processing of a series of requests, including both those submitted at the initiative of the interested parties and those to be submitted following a specific request […]
The law firm BONN & SCHMITT, S.à r.l. is pleased to announce the launch of its new website. Completely redesigned, more intuitive and with a modernized design, the new site is part of BONN & SCHMITT’s new branding which it marks the launch of. www.bonnschmitt.net
Background On 16 December 2020, the CSSF issued a communication covering both new regulatory requirements on transparency with regard to the integration of sustainability risks, the consideration of adverse sustainability impacts and the provision of sustainability – related information, as well as the adoption of a fast track procedure. Regulatory requirements Regulation (EU) 2019/2088, of 27 November […]
BACKGROUND On 21 December 2020 draft law No. 7736 was presented before the Luxembourg Parliament (the “Draft Law”). The scope of the Draft Law includes, inter alia, an amendment to the law of 17 December 2010 relating to undertakings for collective investment (the “UCI Law”). SCOPE The Draft Law amends the UCI Law by prolonging until […]
As part of its actions to address the impact of COVID-19 on the financial system from a macroprudential perspective, on 6 May 2020, the European Systemic Risk Board (“ESRB”) published a recommendation to address liquidity risk in investment funds, requesting that ESMA: coordinates with the EU national competent authorities (including the CSSF) (the “NCAs”) to undertake a […]
On 17 December 2020, the President of the Competition Council (hereinafter the “President of the Council”) rendered a decision rejecting a request for interim measures requested by the laboratory Bionext S.A. against the Laboratoire National de Santé (hereinafter the “LNS”). This request for interim measures was part of a main proceeding initiated by Bionext S.A. […]
Duvieusart Ebel, Avocats Associés has been invited by Wolfs Advocaten (NL), another active IR Global fellow member, to assist one of their US clients, a global operating firm, on a charitable sales promotion developed in multiple countries, including the Netherlands, Belgium and Luxembourg. Duvieusart Ebel reviewed the commercial aspect of the advertising campaign under Luxembourg […]
Foreword by Andrew Chilvers Despite these uncertain times, expanding overseas can be a key driver for future growth for an ambitious business. International expansion can breathe new life into a company, drive huge value and set it on a path of continued success. Expanding a business overseas is a strategic opportunity that will help diversify […]
Despite these uncertain times, expanding overseas can be a key driver for future growth for an ambitious business. International expansion can breathe new life into a company, drive huge value […]
Read moreIn the context of the crisis related to COVID-19, a draft law relating to the postponement of tax reporting deadlines under DAC6, CRS and FATCA was filed with the Luxembourg Chamber of Deputies (bill number 7625, hereafter referred to as “the Bill”) on 6 July 2020. The Bill followed the Council of the European Union’s […]
Foreward by Andrew Chilvers The COVID-19 pandemic is one of those once-ina-lifetime events that few people predict but which affects everyone – individuals, businesses and governments. During the past four months the pandemic has caused huge disruption to companies across the globe as many have suddenly found it impossible to fulfil their contractual obligations. From […]
