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Luxembourg

Banking, finance and capital markets
Banking, finance and capital markets - ranked: tier 6

Chevalier & Sciales

While it is best known for investment fund matters, Chevalier & Sciales’s broader finance expertise also covers debt capital markets and securitisation transactions. Rémi Chevalier is the primary contact.

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Investment funds
Investment funds - ranked: tier 3

Chevalier & Sciales

The ‘responsive and hardworking’ team at Chevalier & Sciales provides ‘a value-for-money service’ on the establishment and restructuring of UCITS and SIFs. Name partner Olivier Sciales recently assisted a Latvian promoter on the establishment of an equity fund specialising in indirect investments into Euro-denominated mortgage loans in Spain.

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Further information on Chevalier & Sciales

Please choose from this list to view details of what we say about Chevalier & Sciales in other jurisdictions.

Luxembourg

Offices in Luxembourg

Legal Developments by:
Chevalier & Sciales

  • CSSF sets out more restrictive policy on UCITS investment in non-UCITS funds

    Luxembourg’s Financial Sector Supervisory Authority (CSSF) has announced changes to its policy regarding investment by UCITS funds in non-UCITS undertakings for collective investment, amending the guidance contained in its Frequently Asked Questions document addressing the law of December 17, 2010 on undertakings for collective investment. In the interests of convergence at EU level regarding the UCITS regime, the CSSF now says that UCITS may no longer invest in other UCIs and those that have done so are required to divest their holdings as soon as possible, unless the eligibility of each target fund has been confirmed specifically through case-by-case analysis.
    - Chevalier & Sciales

Legal Developments in Luxembourg

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  • CSSF sets out more restrictive policy on UCITS investment in non-UCITS funds

    Luxembourg’s Financial Sector Supervisory Authority (CSSF) has announced changes to its policy regarding investment by UCITS funds in non-UCITS undertakings for collective investment, amending the guidance contained in its Frequently Asked Questions document addressing the law of December 17, 2010 on undertakings for collective investment. In the interests of convergence at EU level regarding the UCITS regime, the CSSF now says that UCITS may no longer invest in other UCIs and those that have done so are required to divest their holdings as soon as possible, unless the eligibility of each target fund has been confirmed specifically through case-by-case analysis.
  • Reorganised Luxembourg law on commercial companies comes into force

    A revised version of Luxembourg’s law on commercial companies, originally dating from August 10, 2015, came into force on December 19, 2017, following its publication in the grand duchy’s official gazette (Mémorial A no. 1066) on December 2015 (the “Company Law”.
  • The amended EuVECA and EuSEF Regulations

    Regulation (EU) 2017/1991 amending regulations (EU) No 345/2013 on European Venture Capital Funds (EuVECAs) and (EU) No 346/2013 on European Social Entrepreneurship Funds (EuSEFs) (together, the “Regulations ”) has been published today in the Official Journal of the European Union and will be applicable as of 1 March 2018.
  • MiFID II: are you ready?

    With less than 30 days to go before the new MiFID II regime will be rolled out, funds and management companies/AIFM are increasingly concerned as to how they will be impacted:
  • Registers of beneficial ownership: new rules to be implemented soon

    The draft laws implementing AMLD 4 set out strict rules to allow for protection against improper access to the information on BOs.
  • Permanent exemption from variation margin obligation for FX forwards?

    Earlier this week, the European Supervisory Authorities (ESAs) published draft amendments to EMIR-related regulatory technical standards (RTS) that align the treatment of variation margin (VM) for FX forwards with the supervisory guidance applicable in other key jurisdictions. More specifically the draft amendments propose that the requirement to exchange VM for physically settled FX forwards shall only target transactions between institutions (credit institutions and investment firms).
  • New Circular Letter on stock option plans

    ​As announced by the Luxembourg Finance Minister in his presentation of the 2018 budget bill, the government introduced certain amendments to the current tax regime of stock option plans. In particular, the valuation of freely negotiable options will be increased as of 1 January 2018 from 17.5% to 30% of the value of the underlying stock.
  • Loi modifiée du 10 août 1915 concernant les sociétés commerciales-version consolidée au 19 déc

    We would like to draw your attention to the release of an official coordinated version of the amended law of 10 August 1915 on commercial companies.
  • Back to 2017 - Forward to 2018

    2017 was a busy year, not least in respect of legal and regulatory changes that may impact your business. We are pleased to provide you with an overview of the major legal and regulatory developments under Luxembourg and EU law.
  • PRIIPs KID: are you ready?

    In less than 4 months the Priips-Kid regulation will come into force. The exercise of ensuring compliance with this regulation is not an easy one.