Newsletters & 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)

Regulations amending CSSF Regulation 12-02 of 14 December 2012 and Grand Ducal Regulation of 1 February 2010 on the fight against money laundering and terrorist financing CSSF Regulation 20-05 of 14 August 2020 (“ CSSF Regulation”) amending CSSF Regulation No 12-02 of 14 December 2012 on the fight

On 9 July 2020, the CSSF published Circular CSSF 20/746 (repealing Circular CSSF 20/738 of 6 March 2020) updating all professionals under the supervision of the CSSF on the recent statements made by the Financial Action Task Force (“ FATF”) on jurisdictions identified with strategic deficiencies in

The draft Luxembourg law 7216B, already referred to in our February 2018 newsletter, was voted by a first parliamentary vote on 1 July 2020 and finally adopted by dispensation from the second constitutional vote granted by the Council of State on 10 July 2020 (the “ Fiduciary Arrangement Law”). The

On July 1 , 2019 the CSSF published Circular 19/722 relating to recent declarations of the Financial Action Task Force (“ FATF”). Jurisdictions with substantial and strategic deficiencies FATF maintained its position that the Democratic People's Republic of Korea (DPRK) is a jurisdiction whose anti

Pursuant to and in compliance with the AML 4 th Directive amended by the AML 5 th Directive, Luxembourg parliament enacted the law of 13 January 2019, setting-up a register of beneficial owners (“ BOs”) (“ RBO Law”). The RBO Law creates a register of BOs (“ RBE”), which aims to preserve and make

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. AML Luxembourg Law setting up a Register of

Article 30 of the Directive (EU) 2015/849 of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “ AML 4 th Directive”), which requires corporate and other legal entities incorporated within an EU Member State to obtain