In this series of podcasts, our lawyers share their perspectives on today’s most significant legal, regulatory and business issues. Disclaimer: podcasts are not legal advice. Laws may have changed since a podcast was recorded.
Podcast: Luxembourg - a leading hub for alternative investments and a hedge against uncertainty
Today, Luxembourg is widely used as a hub to set up alternative investment funds (so-called upstream or fund formation) and to structure and execute transactions at the funds’ investment portfolio level (so-called downstream transactions). In this podcast, Natacha Oskian (head of business development) is joined by Peter Myners (partner and co-head of [Global] Alternative Investment Initiative) and Patrick Mischo (office senior partner) to discuss the main features of the Luxembourg alternative investment space and how it has been adjusting to the Covid-19 crisis.They will also discuss what makes Luxembourg so special and distinct from other countries and examine some of the changes alternative investment managers are experiencing today.
Capital call financing - why and how?
The popularity and volume of capital call financings (also called subscription lines or equity bridge facilities) have steadily increased over the past few years (including in Luxembourg) and this trend is here to stay. In this podcast Bénédicte Kurth (Counsel, Banking), Joanna Pecenik (Counsel, Investment Funds) and Yannick Arbaut (Partner, Investment Funds) explain the logic and key features of capital call financings.
Bill 7637: a new era for crypto-securities?
Luxembourg is about to add the missing piece to its legislative framework to enable the issuance of crypto-securities using decentralised ledger technology (“DLT”).In this podcast, Natacha Oskian is joined by Philippe Noeltner, a lawyer and associate who is part of Allen & Overy’s Luxembourg International Capital Markets team, to discuss the following:the objectives of Bill 7637 concerning the issuance of dematerialised securities on DLT devices, such as blockchain and Ethereum;the importance of Bill 7637 for Luxembourg Capital Markets ecosystem and how this Bill may lead to a new era for crypto-securities in Luxembourg;the use of DLT-based wallets to operate an issuer’s issuance account, and investors’ securities accounts;how both legal certainty and investor protection are ensured; andgrey areas and opportunities.
Podcast #3: AML/CTF – Recent Luxembourg developments: focus on Fintech
The inclusion of virtual asset service providers in the scope of the AML Act 2004 and the additional restrictions on the use of anonymised e-money instruments showcase the need to address the “Fintech” spread in the financial sector and to mitigate the potential threats they pose to the current AML/CTF framework. Counsel Carole Schmidt and Senior Associate Baptiste Aubry discuss the implications of those measures while reminding of the need to embrace new technologies and the bright side of legal or reg-tech as powerful tools to improve AML/CTF processes, for both customers and professionals.
Podcast #2: AML/CTF – Recent Luxembourg developments extraterritorial effects of the AML Act 2004
Counsel Thomas Berger and Senior Associate Baptiste Aubry discuss the extraterritorial effects of the AML Act 2004 in light of the recent implementation of 5MLD into Luxembourg law. They shed some light on the impact of these effects on obliged entities and on the particular measures to apply where high-risk countries are in the picture.
Podcast #1: AML/CTF – Recent Luxembourg developments: updating your CDD processes
Partner Henri Wagner, Counsel Carole Schmitt and Counsel Thomas Berger discuss Luxembourg’s implementation of 5MLD and how obliged entities should adapt to these new rules in their approach to CDD.