

European Union: 

Fiscal Regulatory Information Updates – December


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An overview in which our Banking and Finance Practice
Team highlights:
- 
- Loyens & Loeff publications which may be of
desire to you - Legislative dates for your diary.



Loyens & Loeff publications
AIFMD II Proposal: Essential Improvements for Choice Expenditure
Fund Administrators

On November 25, 2021, the European Fee introduced a
proposal COM(2021)721 to amend Directive 2011/61/EU on Option
Financial investment Fund Administrators (the AIFMD). The proposal
follows the evaluation of the software and the scope of the AIFMD by
the European Fee, as needed beneath Post 69 AIFMD.
To study this update, simply click below.
The non-carrying out financial loans directive is now are living

On 24 November 2021, the European Parliament permitted the final
edition of Directive 2021/2167 which addresses significant concentrations of
non-undertaking loans held by banking institutions in the European Union.
To go through this update, click on in this article.
Authentic Estate Update – December (Belgium)

2021 will be remembered on the basis of two buzzwords …
“COVID-19” of course but also “Weather Transform”.
Many initiatives ended up taken to deal with local weather alter…
regional, national, global. Some much more prosperous than
other individuals.
To read through this update, click on in this article.
Luxembourg money – a current market top, agile industry
with sustainability on the horizon (Luxembourg)

From UCITS to ESG, the Luxembourg expenditure fund field has
advanced drastically considering that having off in the nineties, and
specifically above the very last 10 years with the immediate growth of
substitute investment money.
To study this update, simply click here.
2020 Annual Report of the Luxembourg Economical Intelligence
Device (CRF): Vital findings (Luxembourg)

As 2021 draws to a shut, the Luxembourg Monetary Intelligence
Device posted its annual report for 2020. This newsflash
summarises the essential conclusions.
To read through this update, simply click below.
New reporting and administration letter demands relating to
Luxembourg financial commitment fund professionals and undertakings for collective
financial commitment (Luxembourg)

The CSSF published three circulars on 22 December 2021 on new
experiences and administration letters to be accomplished on the CSSF’s
eDesk system by Luxembourg financial commitment fund supervisors (IFMs),
undertakings for collective financial commitment supervised by the CSSF for
AML/CFT applications (UCIs) and their permitted statutory auditors
(réviseurs d’entreprises
agréé, REA).
To browse this update, click here.
Parliament adopts partial revision of the Swiss Federal
Banking Act (Switzerland)

On 17 December 2021, the Swiss Parliament adopted the partial
revision of the Swiss Federal Banking Act
(Bundesgesetz über die Banken und Sparkassen). The
amendments intend to fortify the defense of client deposits
with banks in the fascination of the money industry security.
To read through this update, click below.
Knowledge Protection & Privacy Updates

For updates on the GDPR, be sure to go to the webpage of the Loyens & Loeff Information
Safety and Privateness Team.
EDPB publishes suggestions on interaction territorial scope
GDPR and intercontinental transfers

On 18 November 2021, the European Information Security Board revealed
recommendations on the interplay in between article 3 GDPR, on the
territorial scope of the GDPR, and Chapter V of the GDPR, on
global transfers. The tips make clear the notion of
international transfers and offer clarification on the requirement
of a transfer system as a result of several functional examples.
To examine this update, click in this article.
Update Normal Contractual Clauses for intercontinental individual
info transfers

Nonetheless wondering about your New Year’s resolution? Pursuant to
the European Fee Utilizing Decision of 4 June 2021 on
common contractual clauses for the transfer of personalized knowledge to
third nations (outside the EEA) pursuant to GDPR, providers have
until 27 December 2022 to substitute their current sets of SCCs.
To go through this update, click on right here.
To see the full short article, be sure to simply click right here.
The information of this posting is intended to give a general
guide to the subject matter make a difference. Specialist suggestions should be sought
about your specific circumstances.
Well-liked Content ON: Finance and Banking from European Union
