Luxembourg Adopts Brexit Law for Financial Services

March 26, 2019

On 26 March 2019, the Luxembourg Parliament adopted the first few of a series of Brexit laws, including bill of law n°7401. In the event of a no-deal Brexit, this bill will entrust the Luxembourg supervisory authorities for the financial and insurance sectors (the CSSF and CAA, respectively) to grant a 21-month grandfathering period for services provided to Luxembourg funds and clients by UK-based financial service providers (including investment firms, AIFMs and management companies).

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