A significant number of so-called Part II UCIs may remain within the scope of the AIFMD depositary regime. Luxembourg’s Parliament (Chambre des Députés) has voted yesterday to amend the respective legislation to this effect. This amendment clarifies the scope of the UCITS-like and the AIFMD depositary regimes in Luxembourg for these funds.
Earlier this week, the European Supervisory Authorities (ESAs) published draft amendments to EMIR-related regulatory technical standards (RTS) that align the treatment of variation margin (VM) for FX forwards with the supervisory guidance applicable in other key jurisdictions. More specifically the draft amendments propose that the requirement to exchange VM for physically settled FX forwards shall only target transactions between institutions (credit institutions and investment firms).
2017 was a busy year, not least in respect of legal and regulatory changes that may impact your business. We are pleased to provide you with an overview of the major legal and regulatory developments under Luxembourg and EU law.
We hope that this flashback will enable you to keep track of the main legal trends which marked 2017 and those which we reasonably anticipate will arise in the near future.
Published annually, ISLAMICA 500 is THE guide gathering hard-to-find details of the 500 personalities beyond gender, nationality, religion and sectors, who make the Halal industry and act as pioneers for the development of the Islamic economy.
Bahrain was chosen to hold the kick off of the edition 2018. Bahrain is a leading hub for the Fintech industry and for Islamic financial institutions.
The draft laws implementing AMLD 4 set out strict rules to allow for protection against improper access to the information on BOs.
With less than 30 days to go before the new MiFID II regime will be rolled out, funds and management companies/AIFM are increasingly concerned as to how they will be impacted:
How will you be impacted by the new regime?
We can help you to get ready!
As announced by the Luxembourg Finance Minister in his presentation of the 2018 budget bill, the government introduced certain amendments to the current tax regime of stock option plans. In particular, the valuation of freely negotiable options will be increased as of 1 January 2018 from 17.5% to 30% of the value of the underlying stock.
The new Circular Letter also defines which reasonable conditions need to be complied with as prerequisite for such valuation.
Regulation (EU) 2017/1991 amending regulations (EU) No 345/2013 on European Venture Capital Funds (EuVECAs) and (EU) No 346/2013 on European Social Entrepreneurship Funds (EuSEFs) (together, the “Regulations”) has been published today in the Official Journal of the European Union and will be applicable as of 1 March 2018.
The 24th edition of WIBC, also the world’s longest running Islamic banking conference, is set to return to Bahrain this December, and will take stock of the most pressing issues affecting the global financial landscape.
KUALA LUMPUR, 20 September 2017 – Steve Wozniak, Apple Inc. co-founder will speak at the Face to Face* session during the 13th World Islamic Economic Forum (WIEF). This year, the anchoring Forum discourse on the impact and challenges of disruptive change, the Forum will be held at the Borneo Convention Centre in Kuching, Sarawak, Malaysia from 21 November to 23 November 2017.
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