Newsflashes

An unprecedented judgment of the First Chamber of Luxembourg District Court has been handed down on 27 March 2019, granting the immunity from jurisdiction to a foreign State (including some of its ministries and current or former head of State) and its central bank within the framework of an

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

On March 14 th 2019, the CSSF published: CSSF Circular 19/712 (the “ Fraud Data CSSF Circular”) adopting the guidelines of the European Banking Authority (“ EBA”) on reporting requirements for fraud data under Article 96(6) of Directive (EU) 2015/2366 on payment services (“ PSD2”) - EBA/GL/2018/05

Under US law, punitive damages are damages “awarded in addition to actual damages in certain circumstances. Punitive damages are considered punishment and are typically awarded at the court's discretion when the defendant's behaviour is found to be especially harmful” (definition of the Legal

The OECD’s Multilateral Instrument Convention (“ MLI”), which was signed in Paris on June 7 th 2017, has been adopted by the Luxembourg parliament on February 14 th 2019 (draft bill No. 7333), signed on March 7 th 2019 and deposited with the OECD on April 9 th 2019, which means that Luxembourg has

As the exit of the United Kingdom (“UK”) from the European Union (“EU”) will have consequences for the rights of British nationals to reside and access employment in Luxembourg, the Luxembourg Government has recently published an information folder on Brexit. In this respect, the impact of Brexit