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 …
Continue reading “Permanent exemption from variation margin obligation for FX forwards?”
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 …
Continue reading “Permanent exemption from variation margin obligation for FX forwards?”
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.
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: product governance inducements and payment for research increased client information requirements complex and non-complex products classification
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.
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.
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. The law of 10 August 1915 has been entirely renumbered and the table of contents has also been reordered. The new version does not contain any substantial change. The …
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 …
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Tax changes for 2018 disclosed in the new budget bill
On 11 October 2017, and the last time before next year’s parliamentary elections, the current Luxembourg Finance Minister presented the budget law for 2018 to the Parliament (Chambre des Députés). The main tax-related provisions of the Bill of Law N° 7200 (“Bill”) as laid out below in more detail include inter alia:
Monitoring of the use by an employee of a professional instant messaging tool for personal purposes
Court decision in Bărbulescu v. Romania On 5 September 2017, the Grand Chamber of the European Court of Human Rights (the “ECHR”) examined for the first time the issue of the monitoring of electronic communications of an employee by a private employer, within the framework of an action brought by Mr Bărbulescu, an engineer employed …