74 results found

Publication of the legislative texts constituting the EU's new AML/CFT framework provides clarity on the implementation timeline for supervised entities.

The EU Anti-Money Laundering Regulation introduces a harmonised regulatory framework across the European Union, bringing significant changes to Customer Due Diligence requirements and risk-based approaches. Organizations will need to review their compliance frameworks to meet new obligations on customer identification, beneficial ownership, sanctions screening, and risk assessment ahead of implementation.

The Luxembourg tax authorities (Administration de l'enregistrement, des domaines et de la TVA) (the "AED") as the supervisory authority of "other financial institutions" in accordance with the Law of 12 November 2004...

On 7 February 2024, the Luxembourg supervisory authority for the financial sector (Commission de Surveillance du Secteur Financier, "CSSF")...

In this context, on 16 December 2022, the LBR announced a new procedure for obtaining access to the RBE, applicable solely to Professionals within the meaning of Article 2 of the AML/CFT Law.

CSSF Circular 21/788 of 17 December 2021 introduced the obligation for In-scope Entities to prepare, together with their approved statutory auditor acting as external AML/CFT expert...

Following a decision of the European Court of Justice, access to the Luxembourg register of beneficial owners by the general public was suspended on 22 November 2022.

In a frequently-asked questions document issued on November 25, 2019, Luxembourg's Financial Sector Supervisory Authority has clarified the roles and responsibilities of the two individuals in charge of compliance ...

The last three remaining texts of the AML-CTF Package (i.e. the AML Directive, the AMLA Regulation and the AML Regulation) have been published in the OJEU on 19 June 2024.

Recently, the Court of Justice of the European Union ("CJEU") ruled on case C-623/17

The annual online survey for the year 2020 to collect standardised key information concerning money laundering and terrorist financing ("ML/CFT") risks which professionals under supervision...

Elvinger Hoss Prussen triggered a landmark preliminary ruling on 22 November 2022, in which the Court of Justice of the European Union (CJEU) has declared the 5th AML Directive ("5AMLD") ...

The Luxembourg Register of Beneficial Ownership's online access has been recently re-established for users having an identified access.

This alert summarises future obligations to be met, potential penalties in case of non-compliance and how we can assist you.

Going forwards, each AIF will be required to submit an annual anti-money laundering/counter-terrorism financing ("AML/CFT") questionnaire ("AIF AML Questionnaire")...

In its 2021 report, the EU Commission and the Council undertook a comprehensive analysis of the efficacy and efficiency of the Anti-Money Laundering/Countering the Financing of Terrorism...

On 8 August 2022 , the law of 29 July 2022 (the "Law") was published in the Official Journal of the Grand-Duchy of Luxembourg.