Newsflashes

Background The 2020 national risk assessment of money laundering and terrorist financing (the “ NRA ”) was led by the Executive Secretariat of the National ML/TF Prevention Committee, with the input of a wide set of national stakeholders. The exercise was conducted in the first semester of 2020, and

On 16 December 2020, the Administration de l’enregistrement, des domaines et de la TVA (the “ AEDT ”) sent letters to reserved alternative investment funds (“ RAIFs ”) to request them to appoint, in accordance with article 4(1) of the law on the fight against money laundering and terrorist financing

On 24 December 2020, the CSSF announced that it will roll-out its annual AML online survey for the year 2020 (the “ Survey”) on 15 February 2021. Similar to last year, the Survey is addressed to management boards or/and the board of directors of (i) credit institutions, (ii) investment firms, (iii)

Background The sustained and persistent rise in real estate prices and related surge in volume of mortgages has prompted Luxembourg’s systemic risk committee (the “ LSRC”), the Grand Duchy’s macroprudential authority, to issue on 9 November a recommendation to the CSSF to introduce stricter loan-to

On 19 November 2020, the CSSF published on its website a press release ( Press Release 20/23) (“ Press Release”) updating Luxembourg-based entities on the recent developments regarding the UK’s Temporary Permissions Regime (“TPR”) as communicated to the CSSF by the UK’s Financial Conduct Authority (

CONTEXT Due to the exceptional circumstances linked to the ongoing second wave of COVID-19 pandemic, the bill of law 7683 has been adopted on 29 October 2020 (the Law). The Law amends the latest version of the "Covid law" enacted in September and provides not only new measures, but new restrictions