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Complying with new Luxembourg legislation relating to UBOs

Complying with new Luxembourg legislation relating to UBOs

By | 20 Feb 2019

The new Luxembourg law of 13 January 2019, and related grand ducal regulation of 15 February, established a register of ultimate beneficial owners (UBOs), known as the RBE.

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CSDR and Settlement Fails

CSDR and Settlement Fails

By , , and | 08 Feb 2019

The Central Securities Depositories Regulation (the "CSDR") came into effect on 17 September 2014 and will complete the EU regulatory framework for financial market infrastructure. Amongst other things, the CSDR provides a regulatory framework for the safe, efficient and smooth settlement of transactions in financial instruments carried out in the EU, including by requiring trading venues and investment firms established in the EU to implement measures to prevent and address failures in settlement processes. These measures apply from 13 September 2020.

Publication

Accessing the German Market

Accessing the German Market

By and | 16 Jan 2019

This briefing describes the possibilities for third country credit and financial services institutions which do not benefit from EU passporting rights to access the German market.

Publication

EU energy sector set for crucial state aid decisions in 2019

EU energy sector set for crucial state aid decisions in 2019

By and | 15 Jan 2019

2018 witnessed multiple state aid rulings in the European energy industry, putting state aid and competition back at the core of energy regulation. Wouter Vandorpe, of counsel, energy and utilities at Fieldfisher, discusses whether further decisions will bring clarity for energy companies.

Publication

Derivatives alert: Negative interest rates under CSAs: Appeal allowed

By , and | 12 Nov 2018

On 26 September, The State of the Netherland's application for Appeal was allowed in relation to the English High Court's ruling on 25 July, in favour of Deutsche Bank, that there is no obligation to pay negative interest under an English law CSA.

Publication

Security over Art: General Developments & Highlights

Security over Art: General Developments & Highlights

By , and | 17 Oct 2018

A number of particular issues and difficulties arise for lenders in taking security over art as opposed to other assets, especially in relation to art owned by natural persons. This briefing paper includes an update to the subject, sets out some of the recent general developments in the art market and highlights some traps for the unwary.

Publication

Kammergericht Berlin: Bitcoin keine Rechnungseinheiten nach KWG und kein E-Geld nach ZAG

Kammergericht Berlin: Bitcoin keine Rechnungseinheiten nach KWG und kein E-Geld nach ZAG

By , , , and | 15 Oct 2018

Das Kammergericht Berlin (4. Strafsenat) hat am 25. September die Feststellung getroffen, Bitcoins seien keine Rechnungseinheiten iSd Kreditwesengesetzes ("KWG") und auch kein E-Geld iSd Zahlungsdiensteaufsichtsgesetzes ("ZAG"). Es verwarf die Revision der Staatsanwaltschaft gegen das Urteil des LG Berlin vom 15. November 2017, das bereits einen Freispruch für den Angeklagten vorsah (Az. (4) 161 Ss 28/18 (35/18), 4 35/18)).

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