Newsflashes

The purpose of the draft law 7723, submitted to the Luxembourg Parliament ( Chambre des Députés) on 27 November 2020 (the “ Draft Law”) is to: transpose into Luxembourg law Directive (EU) 2019/2034 of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87

On 5 October 2020, ESMA published its final report (the “ Final Report”) on the guidelines (the “ Guidelines”) on portability of information between securitisation repositories under Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general

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