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ARTICLE · 29 MAY 2019

Luxembourg Update: Brexit Laws Published

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Following on from our earlier legal updates1,2, the laws of 8 April 2019 regarding measures to be taken in relation to the financial sector in the event of a withdrawal of the United Kingdom

European UnionGovernment, Public Sector
Johan Terblanche
Johan Terblanche
Jevgeniy Nesch
Jevgeniy Nesch
Michelle Barry
Michelle Barry
Philippe Burgener
Philippe Burgener
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Following on from our earlier legal updates1,2, the laws of 8 April 2019 regarding measures to be taken in relation to the financial sector in the event of a withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union (the "Brexit Laws") were published in the Official Journal of Luxembourg on 11 April 2019.

The Brexit Laws comprise two separate legislative texts: (i) law n° 237 of 11 April 2019, which enacted bill of law n° 7401 (the "First Brexit Law") and (ii) law n° 238 of 11 April 2019, which enacted bill of law n° 7426 (the "Second Brexit Law") and make various amendments to existing investment fund and financial sector legislation with the aim of ensuring the functioning and stability of the financial markets and protect clients and consumers of the financial sector from the date of Brexit.  

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