Newsflashes

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

On April 11 th 2019, the Luxembourg government published a draft law transposing Directive 2017/1852 on dispute resolution mechanisms in the European Union (hereafter the “ Directive”). This draft law aims to establish a more effective mechanism on resolving tax disputes between Luxembourg and other