As ‘brilliant’ as HAL 9000 in 2001: A Space Odyssey, as ‘malign’ as Agent Smith in The Matrix trilogy or as ‘dumb’ as Dum-E in Iron Man – asking around about robots which invest your money in financial instruments (securities) may evoke extreme responses. In reality, there is no single ‘investment robot algorithm’.
Automated investment advisory, or management software tools (robo-advisors) differ considerably in terms of key configurations.
Regulation (EU) 2016/679 of the European parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (the “GDPR”) will apply as of May 25th 2018 directly in all Member States of the EU.
On September 29th, the European Securities and Markets Authority (“ESMA”) published a further update of its Questions and Answers (“Q&A”) on Regulation (EU) No 596/2014 of 16 April 2014 on market abuse (the “Market Abuse Regulation”) to include a new question and answer in Section 5.
Face à la demande accrue des employeurs mais également des salariés d’organiser leur temps de travail de manière plus flexible, les partenaires sociaux et le Gouvernement ont œuvré en vue de réformer la loi dite PAN du 12 février 1999 mettant en œuvre le plan d’action national en faveur de l’emploi de 1998.
On September 21st 2017, the European Court of Justice (the “ECJ”) rendered its judgements in three different cases regarding the interpretation of the VAT exemption of services supplied by independent groups of persons (“IGP”) to their members.
The new Circular released by the Luxembourg tax administration on August 28th 2017 clarifies the modalities of the «Mutual Agreement Procedure» foreseen by double tax treaties entered into by Luxembourg and which are based on Article 25 of the OECD Model Tax Convention.
With a view to adopting the EU Directive 2016/1065 (the “Directive”) amending Directive 2006/112/EC as regards the treatment of vouchers, the Luxembourg Government issued on August 9th 2017 a draft law No. 7166 (the “Draft Law”).
In a decision handed down on August 9th 2017 (docket No. 38981C), the Higher Administrative Court (Tribunal administratif) ruled on the tax treatment of the reversal of an impairment provision on financial assets.