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Bonn Steichen & Partners
04 Apr 2018
A draft law n°7184 establishing the National Commission for Data Protection and implementing the General Data Protection Regulation ( GDPR ) was published on September 12, 2017 (the “ Draft Law ”). Proposals for amendments by the group of government delegates have been made on March...
16 Mar 2018

Nous mentionnions dans une précédente lettre d’information le communiqué de presse publié par la Commission de Surveillance du Secteur Financier (CSSF) par lequel elle informait les investisseurs et autres participants de marché de la publication de l'ESMA concernant les ICOs et y exposant les risques liés à celles-ci pour les investisseurs. Ce communiqué de presse de la CSSF ne devait pas être interprété comme une quelconque prise de position concrète de celle-ci sur les ICO au Luxembourg.

15 Mar 2018

In a precedent newsflash dated November 16th 2017, we informed you about a press release issued by the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) whereby CSSF informed investors and other market participants that ESMA had issued a statement on ICOs setting out risks of so-called ICOs for investors.

14 Feb 2018

By definition, a cryptocurrency or virtual currency (VC) is a digital or virtual representation of value using cryptography to secure its transactions. Contrarily to centralised electronic money and traditional/fiat currencies (central banking system), cryptocurrencies use decentralized control, which works through the Blockchain technology. Well-known VCs include notably (i) Bitcoin, (ii) Ether and (iii) Ripple.

08 Feb 2018

This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, Investment Funds and Tax.
If you would like to know more about the topics covered in this newsletter or our services please contact us.

08 Feb 2018

On December 8th 2017, the Luxembourg tax authorities issued the new circular L.G.-A. No. 61 (replacing the previous Circular dated February 12th 2015, please see our previous newsletter dated March 2nd 2015) which aims to cover the procedure applicable to the request of tax residency certificates for collective investment funds (hereafter the “Circular”).

08 Feb 2018

As a reminder, as from January 1st 2018, all entities advising on or selling a packaged retail and insurance-based investment product (PRIIP) to retail investors in the European Union are required to deliver a PRIIP compliant KID to their retail investors before any investment.

08 Feb 2018

The Grand-ducal Regulation of December 21st 2017 relating to the fees to be levied by the CSSF (the “New Grand-ducal Regulation”) entered into force as of January 1st 2018 and has created a number of changes to the fees levied on investment fund vehicles and management companies. In general, almost every fee levied by the CSSF has been increased, including transformation charges, examination fees and annual charges in regards to investment funds.

08 Feb 2018

The CSSF’s updated UCITS FAQ and the CSSF press release 18/02 dated January 5th 2018 relate to the deletion of section 1.4 of the UCITs FAQ which stated that “Non-UCITS ETFs are eligible investments for UCITS if they effectively comply with all criteria of Articles 2(2) and 41(1)(e) of the Law 2010, notwithstanding that the offering documents of non-UCITS ETFs grant possibilities which are not equivalent to requirements applicable to UCITS.