Luxembourg newsflash: combating money laundering/terrorism financing
Financial institutions acting on the basis of the freedom to provide services (FPS) may be obliged to co-operate with the financial intelligence unit of the host member state according to the Court of Justice of the European Union (CJEU).
In a recent judgment (Case C-212/11 Jyske Bank Gibraltar Ltd), the CJEU ruled that EU law does not preclude host member state legislation from imposing on financial institutions operating in this member state on an FPS basis (without being established there) the obligation to co-operate directly with the host member state authorities on ML/TF matters relating to its operations in such state…
If you are registered and logged in to the site, click on the link below to read the rest of the Arendt & Medernach briefing. If not, please register or sign in with your details below.
News from Arendt & Medernach
Briefings from Arendt & Medernach
After the publication of the CSSF Circular 14/587 on UCITS depositaries last week, it is now the European legislator’s turn to adopt new rules on UCITS depositaries.
The CSSF publishes the article 42 AIFMD information form: non-EU AIFMs can notify CSSF of intention to market in Luxembourg
The CSSF has published guidance on the notification to it by non-EU AIFMs of their intention to market their EU and non-EU AIFs to professional investors in Luxembourg.