d.law

Publications

Business law firm D.Law welcomes Sandrine Leclercq as principal to further develop its asset management business and drive digitalization of legal documents

06.06.2018
Sandrine Leclercq brings a strong background in legal and regulatory matters thanks to her 19 years of experience within the asset management and asset servicing sectors. She will be responsible for further developing D.Law’s existing service offering in the asset management field.

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Looking back at 2016

13.02.2017
UCITS (general), UCITS V, UCITS Reporting, RAIF, AIFM, PRIIPs, Legal publication regime, Anti-money laundering, Protection of individuals with regard to the processing of their personal data, EMIR, SFT, MiFIDII / MiFIR, Common Reporting Standard, Transparency, DAC

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Reserved alternative investment fund (RAIF)

14.07.2016
Luxembourg legal arsenal now counts a new leading-edge tool that is accessible to market stakeholders: the RAIF. Bill 6929 was adopted on 14 July 2016 and the law will enter into force within three days following its publication in the Official Gazette. Ongoing enthusiasm for this new structure emerged as the RAIF, in addition to the attraction of novelty, allows for a high degree of flexibility and simplicity in its setting up.

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Modernization and competitiveness of the Luxembourg market: adoption of the draft law 5730

13.07.2016
After several years of discussions, the Luxembourg Parliament just voted the draft law (Projet de loi) 5730 (the “New Commercial Law”) updating among others (i) the provisions of the Luxembourg Civil Code relating to all legal entities and (ii) the Law of August 10th,1915 as amended from time to time relating more specifically to commercial companies.

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Reform of the regime of legal publication regarding companies: FCPs’ aspects

30.05.2016
Bill 6624 introduced in the Luxembourg Chamber of Deputies on October 3rd, 2013 was enacted through the law of May 27th, 2016 on the reform of the regime of legal publication regarding companies and associations and published in the Mémorial C, Recueil des Sociétés et Associations, on May 30th, 2016 (the “Law”). The Law entered into force on June 1st, 2016.

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Unregulated Alternative Investment Funds reaching Luxembourg

27.11.2015
A bill has been approved on November 27, 2015 by the Luxembourg government for the purpose of creating a new type of alternative investment fund in Luxembourg: the reserved alternative investment fund (RAIF). The text of the bill is to be published shortly.

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CSSF Regulation 15-03 laying down implementation rules of Article 46 of the AIFM law in relation to marketing of foreign alternative investment funds (AIFs) to retail investors in Luxembourg

15.11.2015
Any authorised AIFs manager (AIFM), established in Luxembourg or abroad, willing to market to retail investors in Luxembourg foreign AIFs* (Foreign-law AIFs) it manages will have to comply with CSSF Regulation.

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Luxembourg expertise with international reach

11.11.2014
Due to the rapidity and globalisation of the business environment, entrepreneurs, hedge funds, institutional investors, private equity houses, credit institutions, asset managers and multinational groups are often faced with complicated strategic decisions that need to be taken quickly.
Regardless of the size of your business and your respective industry, the common denominator of any entrepreneur moving in a complex and changing environment is the challenge to secure its increasingly complex transactions with major business and financial implications.
Download our service offering in English
Download our service offering in Portuguese
Download our service offering in Chinese

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Legal update | Squeeze-out and sell-out of securities

29.07.2012
On 2 July 2012, the Luxembourg parliament has approved the bill 5978 on the mandatory squeeze-out and sell-out of securities issued by companies, currently or previously admitted to trading on a regulating market or having been subject to a public offering and amending the law of 23 December 1998 creating a financial services supervision commission (the "Law"). The mandatory squeeze-out refers to the right given to the majority shareholder of a company to require the minority shareholders to sell their securities at a fair price. Likewise, the mandatory sell-out gives a minority shareholder the right to force the majority shareholders to purchase its securities. The State Council ("Conseil d'Etat") has waived the requirement of a second constitutional vote on 23 July 2012 and the new law will thus enter into force on the first day of the third month following its publication in the Luxembourg Official Gazette ("Mmorial").

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Amended Luxembourg regulatory regime for Specialised Investment Funds

29.03.2012
On 6 March 2012, the Luxembourg Parliament voted on and approved the Bill n6318 amending the Law of 13 February 2007 on Specialised Investment Funds (hereafter, the "Law"). The new Law contains some significant changes that in effect tighten Luxembourg regulatory regime for Specialised Investment Funds (hereafter, "SIFs").
The Law has been inspired by EU Directive 2011/61/EU on Alternative Investment Managers (hereafter, the "AIFMD") and aims to align the current SIF regime with the AIFMD. Yet, the Luxembourg legislator also took this opportunity to improve the existing SIF regime by taking into account the practical experience of financial sector piled up since 2007 in its dealings with SIFs, and by making available to SIFs some of the advantages introduced for UCITS by the Law of 17 December 2010 on Undertakings for Collective Investments.
The Law will come into force on the first day of the month after its publication in the Luxembourg official journal (Mmorial) and will apply directly to all new SIF structures. Certain transitional provisions are applicable to existing SIFs.

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d.news - Modernisation comptable et réforme de la CNC

01.02.2012
Ce 20 décembre 2011 a été rendu public le projet de loi 6376 portant réforme de la Commission des normes comptables et modification de diverses dispositions relatives à la comptabilité et aux comptes annuels des entreprises ainsi qu'aux comptes consolidés de certaines formes de sociétés.

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Legal update

01.01.2012
Law of May 20th, 2011 on Financial Collateral Arrangements. Law of August 3rd, 2011 regarding the obligations on reporting and documentation in case of merger or demerger. Draft bill of August 12th, 2011 amending the law of May 11, 2007 on specialised investments funds. Draft bill of August 12th, 2011 amending the law of July 10, 2005 on prospectuses for securities and the law of January 11, 2008 on the transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market.

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Recents publications