Law firms

Italy: Still a favorite destination for Islamic investors (Part III)

Italy is getting ready for the general elections that are scheduled for next March. Prime Minister Paolo Gentiloni’s Democratic Party is trailing both a center-right coalition led by former prime minister Silvio Berlusconi and the anti-establishment Five Star Movement led by Luigi Di Maio.

It is hard to predict the outcome of the elections, but based on the current polls, and considering the new election law which was recently approved, it is likely that none of the three main electoral forces will have control of parliament a er the vote.

Permanent exemption from variation margin obligation for FX forwards?

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).

Back to 2017 - Forward to 2018

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.

ISLAMICA 500 _ Edition 2018 - Launched in Bahrain

Islamica 500

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.

MiFID II: are you ready?

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:

  • product governance
  • inducements and payment for research
  • increased client information requirements 
  • complex and non-complex products classification​

How will you be impacted by the new regime? 

We can help you to get ready!

4,5,6 December 2017 - ISFIN at WIBC (World Islamic Banking Conference) - Bahrain (Place TBC)

Convened by leading financial intelligence platform Middle East Global Advisors in strategic partnership with the Central Bank of Bahrain, the 24th World Islamic Banking Conference, will take shape under the theme of “Drivers of Economic Growth & Risks: Policymakers & Regulators” on December 4-6 at the ART Rotana Hotel, Amwaj Islands, Kingdom of Bahrain.

New Circular Letter on stock option plans

​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. 

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