Regulatory

Blog

Regulatory

The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Cyprus and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.

Contributors

Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Chiara Deceglie
Chiara Deceglie
  • Chiara Deceglie

  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

  • Senior Associate
  • Luxembourg
Philip Graham
Philip Graham
  • Philip Graham

  • Partner
  • British Virgin Islands
Ayana Hull
Ayana Hull
  • Ayana Hull

  • Counsel
  • British Virgin Islands
Katerina Katsiami
Katerina Katsiami
  • Katerina Katsiami

  • Associate
  • Cyprus
Andrew Knight
Andrew Knight
  • Andrew Knight

  • Partner
  • Luxembourg
Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

  • Counsel
  • British Virgin Islands
Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
  • Hong Kong
Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Consultant
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

  • Associate
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Counsel
  • Cayman Islands

Luxembourg’s CSSF publishes FAQs on the application of MiFID to Investment Fund Managers

On 10 June 2021, the Commission de Surveillance du Secteur Financier (CSSF) published Frequently Asked Questions (FAQs) on the application of MiFID to Luxembourg Investment Fund Managers (IFMs). The CSSF FAQs aim to clarify under what circumstances and to what extent MiFID applies to IFMs, their third-party delegates and their investment advisers.

Vanessa Molloy, Victor Le Pape

CySEC extends AML obligations

On 12 February 2021, the Cyprus Securities and Exchange Commission (CySEC) issued Circular 427 informing all interested parties that due to COVID-19 developments, the deadlines for the submission to CySEC of the (1) Internal Auditor’s Annual Report, (2) AMLCO’s Annual Report, and the (3) Form of the Monthly Prevention Statement provided in the AML/CFT Directive are extended.

Andrea Moundi Savvides

CSSF on SFDR special accelerated procedure

On 5 February 2021, the Commission de Surveillance du Secteur Financier (CSSF) issued a press release as a reminder that UCITS management companies and alternative investment fund managers will have to comply with Regulation (EU) 2019/2088 on the publication of information on sustainability-related disclosures in the services sector on 10 March 2021.

Vanessa Molloy

Luxembourg government issues 2021 budget bill: Changes in tax law to control the surge in real estate prices and encourage sustainable economy

On 14 October 2020, the Luxembourg government issued bill n° 7666 regarding the 2021 budget (the Bill), introducing changes to Luxembourg tax law applicable from 1 January 2021. The Bill is strongly influenced by the Covid-19 crisis on the expenditure side, but also by a political decision to limit speculation on housing, as well as Luxembourg’s sustainability goals on the revenue side of the 2021 budget.

Victor Le Pape, Vanessa Molloy,
Andrew Knight

ESAs launch survey seeking feedback on environmental and/or social financial product templates

On 21 September 2020, the European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published a survey requesting for public feedback on presentational aspects of product templates pursuant to Article 8(3), Article 9(5) and Article 11(4) of the Regulation (EU) 2019/2088 of the European Parliament and of the Council on Sustainability‐Related Disclosures in the financial services.

Elina Mantrali