Investment Management News Update – January 2019
The Investment Management News Updates: an overview in which our Investment Management Team highlights recent developments.
Loyens & Loeff publications
- Response of Loyens & Loeff to the Dutch legislative consultation implementation act amendment fourth anti-money laundering directive (the Netherlands). We submitted a response (in Dutch only) to the legislative consultation implementation act amending fourth anti-money laundering directive (Implementatiewet wijziging vierde anti-witwasrichtlijn). Click here to read this response
- Luxembourg register of beneficial owners: impact on Luxembourg management companies and investment vehicles (Luxembourg). The law dated 13 January 2019 establishing a register of beneficial owners transposes article 30 of the fourth Anti-Money Laundering Directive, as amended by the fifth Anti-Money Laundering Directive. The Law creates a register of beneficial owners in which the ultimate beneficial owners of companies and other Luxembourg legal entities need to be identified. The Law will enter into force on 1st March 2019 and companies in scope have six months to comply. Click here to read our brochure
- Brexit – what to expect for data protection. In this Brexit blog, we discuss some of the possible consequences in the field of data protection and privacy following Brexit on 29 March 2019. Click here to read this blog
EC news item: Towards a more sustainable Europe by 2030 and Brexit preparedness, includes link to publication of adopted texts, Click here for overview adopted texts, including amongst others:
- OTC Derivatives Transactions (C(2019)793)
- Securities Financing Transactions Regulation (C(2019)793)
- Pre- and post-trade transparency requirements (MiFIR) (C(2019)793)
- Market Abuse Regulation (C(2019)794)
- Publication of parliamentary documents (in Dutch only): 35084, nr. 9 - Kamerstukken - Nota n.a.v. het verslag - Tweede Kamer - Wijziging van enige wetten en het treffen van voorzieningen in verband met de terugtrekking van het Verenigd Koninkrijk uit de Europese Unie (Verzamelwet Brexit), 14.01.2019
- EP publication: Report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1092/2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board, 14.01.2019
Publication of parliamentary documents (in Dutch only): Wijziging van de Wet op het financieel toezicht en enige andere wetten op het terrein van de financiële markten (Wijzigingswet financiële markten 2019), 15.01.2019:
- Koninklijke boodschap, Click here
- Voorstel van wet, Click here
- Advies en nader rapport, Click here
- Memorie van toelichting, Click here
Anti Money Laundering
- EP publication: Report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority); Regulation (EU) No 1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority); Regulation (EU) No 1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority); Regulation (EU) No 345/2013 on European venture capital funds; Regulation (EU) No 346/2013 on European social entrepreneurship funds; Regulation (EU) No 600/2014 on markets in financial instruments; Regulation (EU) 2015/760 on European long-term investment funds; Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds; Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market; and (EU) Directive 2015/849 on the prevention of the use of the financial system for the purposes of money-laundering or terrorist financing, 14.01.2019
- Publication of parliamentary documents: Kamerbrief anti-witwasbeleid, in Dutch only, 14.01.2019
- EBA press release: ESAs announce multilateral agreement on the exchange of information between the ECB and AML CFT competent authorities, 15.01.2019
- Publication rechtspraak.nl: Court (Rechtbank) Amsterdam. Investment fraud, scams, habitual money laundering and forgery. The defendant is convicted of co-perpetrating habitual money laundering, committed by a legal entity (in Dutch only) Click here & Click here & Click here, 29.01.2019
Data Protection & Privacy Updates
- For updates on the GDPR, please visit the GDPR webpage of the Loyens & Loeff Data Protection and Privacy Team.
- Should you require any assistance in the field of Investment Management, please contact your trusted adviser of our Investment Management Team.
Although this publication has been compiled with great care, Loyens & Loeff N.V. and all other entities, partnerships, persons and practices trading under the name 'Loyens & Loeff', cannot accept any liability for the consequences of making use of this issue without their cooperation. The information provided is intended as general information and cannot be regarded as advice.