Dear Friend of the Chamber,

The objectives of the British Chamber of Commerce for Luxembourg are to follow and influence developments in the economic and business world in Luxembourg affecting members’ interests, and so contribute to making Luxembourg an attractive place to do business. The Tax and Legal groups of the BCC address key issues in their sectors to corporate and individual members through a number of events, and seek to raise awareness and influence decision makers as to the issues of concern to the BCC membership.

The purpose of the BCC Tax and Legal Newsletters is to provide additional regular bimonthly updates of key Tax and Legal developments in Luxembourg that may be relevant to your business. The present newsletters issued by member firms of the Tax and Legal groups cover the period from July-August 2020. If you deem that another person within your organisation should receive this email, please let us know. If you wish to unsubscribe please contact the BCC Secretariat by email to info@bcc.lu.

Legal newsletters:

Allen & Overy:

• Bill 7367 – Luxembourg adds the missing piece for the issuance and circulation of blockchain securities – 5 August
• 5MLD – Fiduciary arrangements and trusts: new obligations – 20 July
• Luxembourg third country firms regime – 9 July

BSP:

• New Luxembourg Law on Professional Payment Guarantees: a practical analysis and its potential
• Establishment of a Register of Fiduciary Arrangements and Trusts in Luxembourg
• Sustainable Finance Insights Series – 8 | Amendments to the Disclosure Regualtion (2019/2088)

 Clifford Chance Luxembourg:

• Amendment of the e-commerce law of 14 August 2000
• New law introducing a professional payment guarantee under Luxembourg law
• Coronavirus: Prudential treatment of payment Moratoria in Luxembourg

ELVINGER HOSS PRUSSEN, société anonyme:

• Crossborder services by third-country firms: CSSF recognises first equivalent third countries and clarifies when an investment service is rendered in Luxembourg
• Professional Guarantees
• CJEU invalidates the Privacy Shield: implications for EU-US personal data transfers

Linklaters:

• MiFID II and the cross-border provision of investment services in Luxembourg: new developments
• Liquidity risk in investment funds
• Draft text of EU-wide directive on collective redress agreed by European Parliament and Council negotiators

MOLITOR Avocats à la Cour SARL:

• MOLITOR obtains one of the first court decisions in favour of a lessor amid the Covid-19 crisis
• Professional payment guarantees: an innovative legal tool for financial transactions
• A set of six key steps to manage your insurance contracts effectively during the health crisis

PwC Legal:

• August 7th, 2020 – “Update on international transfers of personal data – Privacy Shield invalidated and new requirement around the use of Standard Contractual Clauses: which actions should we take?”

WILDGEN S.A.:

• The SRDII Implementing Regulation will not be Postponed
• Episode 11 – COVID-19 Webcast – Where are we now? – Legal and Regulatory Update
• Luxembourg Commercial Banks Moratorium

Tax Newsletters:

Cross-border workers and Taxation and Social security measures in light of the Covid-19 crisis

• Deloitte
• Deloitte #2
• KPMG

Luxembourg law impementing decision to defer DAC6

• Deloitte
• KPMG
• Maples
• Atoz

Maples:

• Overview of the 2020 corporate tax work, key developments and the tax climate in Luxembourg

Atoz:

• Apple case: EU judges confirm that the EU Comission got it wrong
• EU “DAC 7 Proposal”
• Atoz Insights – July 2020

Please note: External links are selected when the BCC newsletter is sent. However, the BCC is not responsible for the content of external websites. The inclusion of a link to an external website by the BCC should not be understood to be an endorsement of that website or the site’s owners, products or services.

Best regards,

BCC Secretariat