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Luxembourg

Fieldfisher opens second European office in two months

Fieldfisher has opened its second European office in as many months, launching new operations in Luxembourg through a lateral hire. The office will be focused on finance and funds, with the firm hiring Ingrid Dubourdieu as its managing partner for the country. She joins from local firm D Law, where she has been a partner […]

Analysis

Featured Briefings

Portugal: Fund management 2018

By Pedro Simões Coelho, Ricardo Seabra Moura and Carlos Filipe Couto How is fund management regulated in your jurisdiction? Which authorities have primary responsibility for regulating funds, fund managers and those marketing funds?

Commercial Court discharges $3bn freezing order in relation to Angolan sovereign wealth fund

On 16 August 2018, Mr Justice Popplewell discharged a $3 billion proprietary and freezing injunction (“WFO”) against the Defendants, Mr José Dos Santos, Mr Jean-Claude Bastos de Morais (“Mr Bastos”), and the Quantum Global group of companies. This is a very important judgment on the requirements for freezing orders, especially the duty of full and […]

M&A activity in Ireland valued at €70.9bn in first half of 2018

The first six months of 2018 have been notably buoyant for Ireland’s mergers and acquisitions (M&A) market. Dealmakers were kept busy with a pipeline of transactions, in a continuation of the active market that was evident last year…

Kazakhstan introduces new ‘Squeeze-Out’ mechanism for major shareholders

On 2 July 2018, Kazakhstan adopted the Law No. 166­VI “On amendments and changes to certain legislative acts of the Republic of Kazakhstan on Insurance and Insurance Activities, the Securities Market” (the “Law”). The Law entered into force on 15 July 2018 (with the exception of certain provisions, which will come into force later). Among […]

Asset management and investment funds update

On 30 July 2018, ESMA published its final report following its peer review of the compliance and supervisory framework of six national competent authorities (NCAs) with aspects of the UCITS framework for Efficient Portfolio Management (EPM). The review covered the NCAs for Ireland, the UK, Luxembourg, Germany, France and Estonia and was limited to assessment […]

Prevent disputes with pension providers about the implementation agreement

The Dutch pensions system has been under increasing stress since 2008. A sudden downturn on the financial markets and market interest rates held down artificially, together with rising life expectancy and strict solvency requirements, have produced some unpleasant financial surprises. So the question as to who is responsible or liable for the solvency shortfalls is […]

Pensions Ombudsman Update August 2018

By Sasha Butterworth Keep abreast of a selection of the latest determinations made by the Pensions Ombudsman. During the last quarter, the Pensions Ombudsman has handed down a number of noteworthy decisions, relevant for trustees and sponsoring employers of pension schemes, and their professional advisers. Our latest quarterly edition includes commentary on the following important […]

Kazakhstan and the Belt and Road

By Shaimerden Chikanayev Kazakhstan has high ambitions in China’s Belt and Road initiative, as it is geographically an ideal junction between China and the West and its interest in the Belt and Road is indisputable, with the Kazakh government already involved in Nurly Zhol (the Path of Light), a US$9 billion domestic economic stimulus plan […]

Luxembourg tax authorities issue guidance on tax aspects of virtual currencies

On 26 July 2018, the Luxembourg tax authorities published a circular on specific tax aspects of virtual currencies. As it does not consider virtual currencies to be an actual currency, the circular clarifies that Luxembourg tax accounts cannot be prepared and taxable income cannot be reported in a virtual currency…

Guernsey Financial Services Commission issues updated Prospectus Rules

On 6 July 2018, following a period of consultation, the Guernsey Financial Services Commission (the Commission) issued the Prospectus Rules 2018 (the Prospectus Rules) and the Registered Collective Investment Scheme Rules 2018 (the RCIS Rules and, together with the Prospectus Rules, the Rules). The Rules will each be effective from 6 October 2018…

Astana International Financial Centre’s law: What’s it about?

By Shaimerden Chikanayev Modeled on the Dubai International Financial Centre, the Astana International Financial Centre (AIFC) was officially launched on the 5 July this year, established with the aim of bridging the gap between the world’s major financial centres and a regional gateway for capital and investments…

China: New rules on investment

Last June, the foreign investment system in China underwent two significant changes: a reduction in restrictive measure for foreign investment set out in the national Negative Lists and Free Trade Zones and the promulgation of provisional administrative measures for 2018. These measures are significant in terms of the liberalisation of the Chinese market for foreign […]

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