In this client alert we outline the practical approach taken in Luxembourg for companies and unregulated investment funds facing liquidity issues resulting from government lockdowns in response to the COVID-19 outbreak.
In...more
A variety of steps have been taken to accommodate managers working during the lockdown. As at 20 May 2020, these measures are as follows:
1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS -
The increased flexibility for the...more
4/17/2020
/ Commercial Bankruptcy ,
Commercial Leases ,
Coronavirus/COVID-19 ,
CSSF ,
Filing Deadlines ,
Investment Firms ,
Investment Funds ,
Investors ,
Luxembourg ,
Relief Measures ,
Reporting Requirements ,
Swing Pricing
Various measures have been implemented in Luxembourg to help Luxembourg funds tackle the impact of the COVID-19 outbreak...
This is a fast-moving crisis and it is important to closely monitor the outbreak, its business...more
Luxembourg parliament is considering two new bills which were introduced respectively on 26 and 27 March 2020 to provide headroom to operating businesses and funds in respect of their accounting obligations.
Any extensions...more
Under emergency legislation applicable with immediate effect for three months with a view to contain the rapid spread of COVID-19 in Luxembourg, Luxembourg enacted on 20 March 2020 temporary measures applicable to all...more
3/23/2020
/ Anti-Money Laundering ,
Board Meetings ,
Bondholders ,
Coronavirus/COVID-19 ,
CSSF ,
Emergency Response ,
Investment Funds ,
Luxembourg ,
Shareholders ,
SIFs ,
UCITS
The UK’s exit from the European Union is now postponed to 31 January 2020, and whilst there is still significant uncertainty regarding the occurrence of Brexit on that date, the CSSF set out a new deadline on 6 November 2019...more
Luxembourg adopted in March and April 2019 a series of measures to attempt to secure a soft landing for Luxembourg funds managed by UK managers (Brexit Laws), in line with its flexible approach to ensure the continuation of...more
The European Union's Directive 2015/849, better known as the 4th Anti-Money Laundering Directive, regulates prevention of the use of the financial system for the purposes of money laundering or terrorist financing. As such,...more
The reform implemented on 23 August 2016 (the Reform) modernised the Luxembourg act on commercial companies of 10 August 1915 (the Companies Act), amended the Civil Code and the law of 19 December 2002 on the trade and...more