Overview of the VAT impacts of Brexit
WITH THE END OF THE TRANSITION PERIOD AS OF 1 JANUARY 2021, THE UK OFFICIALLY BECAME A THIRD COUNTRY WITH RESPECT TO THE EU, MEANING THAT THE EU VAT DIRECTIVE HAS CEASED TO APPLY TO IT.
Regulatory certainty for the investment fund industry in view of the forthcoming end of Brexit
IN VIEW OF THE DEPARTURE OF THE UNITED KINGDOM FROM THE EU ON 1 FEBRUARY 2020 AND THE FORTHCOMING END OF THE TRANSITIONAL PERIOD ON 31 DECEMBER 2020, THE CSSF STATED ITS EXPECTATIONS AND RENDERED SOME CLARIFICATIONS THROUGH A PRESS RELEASE PUBLISHED ON 7 DECEMBER 2020.
Luxembourg Competition Council imposes highest ever fine for resale price maintenance agreements
LUXEMBOURG COMPETITION COUNCIL IMPOSES HIGHEST EVER FINE ON BAHLSEN AND SUPERMARKET CHAINS CACTUS, AUCHAN AND DELHAIZE FOR RESALE PRICE MAINTENANCE AGREEMENTS.
International sanctions: a dedicated regime for financial sanction in Luxembourg
ON DECEMBER 23, 2020 THE LUXEMBOURG LEGISLATOR HAS PUBLISHED THE LAW OF 19 DECEMBER 2020 IMPLEMENTING FINANCIAL RESTRICTIVE MEASURES (“LAW OF 19 DECEMBER 2020”). THIS LAW HAS REPEALED THE LAW OF 27 OCTOBER 2010 ENHANCING THE ANTI-MONEY LAUNDERING AND COUNTER TERRORIST FINANCING LEGAL FRAMEWORK.
The Danish Supreme Court finds in favour of Danish municipality
The Western Division of the Danish High Court had previously acquitted a Danish municipality in a case where the municipality’s mechanical ditch cleaners had caused damage to a telecommunications cable situated in a roadside ditch.
Safeguards, Anti-Dumping and Countervailing Act 2076 (2019)
This article provides a general overview of the Safeguard, Anti-Dumping and Countervailing Act 2076 (2019) (“SACA”).
Clarification Issued by the FIAU with respect to Insurance Brokers and Tied Insurance Intermediaries
On 2nd February 2021, the Financial Intelligence Analysis Unit (FIAU) issued an Interpretative Note in relation to the interpretation of Article 2(1)(d) of the Prevention of Money Laundering and Funding of Terrorism Regulations (the “Regulations”), the interpretation of which was causing difficulty to certain entities and individuals operating within the insurance sector.
Sustainable Finance – Are you ready for 10 March 2021?
Sustainable finance has, after years of ongoing debate, finally come to the forefront of regulation within the EU. Until now, financial regulation has primarily required financial institutions to focus on financial risks for clients. Increasingly, there is a demand that such institutions look at investments’ sustainability risks and opportunities.
Norwich Pharmacal Orders and Bank Secrecy
Norwich Pharmacal Orders (NPOs) are frequently issued against banks. The conflict between bank secrecy and orders for disclosure of information is inevitable.
Supreme Court Ruling in the First Case of Enforcement of Foreign Arbitral Award
This article summarizes a Supreme Court ruling in the first case relating to recognition and enforcement of an arbitral award under the New York Convention.