Luxembourg CSSF publication of guidance on teleworking

On 9 April 2021, Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (“CSSF”), issued Circular 21/7691 on teleworking. It will enter into force on 30 September 2021 assuming working conditions have returned to normal.

Related briefings

Funds & Investment Management Update – Ireland and Luxembourg – Q2 2021

This quarter’s highlights include the coming into force of the Investment Firms Directive and the Investment Firms Regulation, a number of AML developments, ESMA’s publication of funds’ marketing communications guidance and the CBI’s call for UCITS managers to review their liquidity risk management frameworks. Other notable developments include the CSSF’s updated guidance on granting loans to the public and updates to its UCITS and AIFM FAQs, the publication of a Circular on remote working as well as further EU sustainable finance developments.

The Regulatory 15/15: July 2021

In this webcast, Partner Chris Capewell is joined by Partner Tim Dawson and Associate Adam Huckle. This month’s webcast covers the following Cayman Islands topics: • Updates on FATF Listing • Economic Substance Update • Proposed Amendments to LLC Legislation • Private Fund FAR Filings Updates • CIMA Supervisory Circular – Procedures for Licence Applications • Monthly New Product

The sustainability of green financing

Maples Group acted for Xiaomi Corporation in connection with Xiaomi’s offering of US$800,000,000 2.875% Senior Bonds Due 2031 and US$400,000,000 4.100% Senior Green Bonds Due 2051 issued by Xiaomi Best Time International Limited, incorporated in Hong Kong and unconditionally and irrevocably guaranteed by Xiaomi Corporation, a company controlled through weighted voting rights and incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange. The green bonds offering marked Xiaomi’s initial foray into the world of green financing and more broadly Environmental, Social and Governance (ESG). The proceeds of the green bonds are earmarked for ‘Eligible Projects’ within Xiaomi’s finance framework aimed at positive environmental and social benefits. Their framework follows the green bonds and loan guidelines of the International Capital Markets Association.

New regime for consumer hire purchase, PCP finance and point of sale lending

The Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 20211 was published on 23 June 2021. Once enacted later this year, the bill will extend the Irish retail credit licensing regime to any currently unregulated providers of consumer hire-purchase, consumer hire (e.g. PCP car finance) and consumer indirect credit provision, such as the emerging point of sale lending sector. It is important to note that non-consumer activity such as SME hire-purchase and certain forms of trade credit are not in the scope of the bill.

Processing Covid-19 vaccination data in the workplace

As the National COVID-19 Vaccination Strategy in Ireland gathers pace, employers are frequently asking whether they can make decisions on who returns to work and when based on an employee’s vaccination status. Employers, in particular, continue to ask whether they can lawfully collect and process information about the vaccination status of their employees. In this client update, we explain the key considerations.

Latest Briefings

Cayman update: separate liquidation committees for segregated portfolios of SPCs

On 19 April 2021, Chief Justice Smellie QC held in In the Matter of Premier Assurance Group SPC Ltd. (in Official Liquidation) that the court has the power under Order 9, rule 1(1) of the Companies Winding Up Rules, 2018 to order the establishment of separate liquidation committees in respect of a segregated portfolio company (SPC) and each of its segregated portfolios.

Update to Listing Rules on The International Stock Exchange

The International Stock Exchange has announced a number of improvements to its Listing Rules and Fees that have just taken effect, designed to bring the exchange into alignment with international practice, add further flexibility to its offering, and to streamline processes from a client perspective.

The ILC Articles at 20: Introduction to the Symposium by Prof. Christian Tams and Dr Federica Paddeu

The Articles on the Responsibility of States for Internationally Wrongful Acts (Articles), developed by the International Law Commission (ILC), turn 20 this year. On 9 August 2001 – 45 years after the first report by Special Rapporteur Francisco García-Amador on the topic, after 5 Special Rapporteurs and 34 reports by them – the ILC adopted the final text of the Articles, thus bringing to an end work that (in the words of Rosalyn Higgins) were it not for the Commission‘s broad understanding of responsibility, ‘should on the face of it [have] take[n] one summer’s work’.

Scaling expertise through digital solutions

Neota Logic provides the ability to scale access to expertise through automation solutions using its no-code platform, making it an easier, faster and less expensive way to engage your stakeholders.

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