Legal news

Don’t forget to update your procedures! In September of 2019 the National Commission for Data Protection (the "CNPD") updated its data breach notification form with the goal of facilitating the job of data controllers. The form is accessible by clicking here and should be sent to: databreach@cnpd.lu You can use the public GPG key to secure the transmission of information by encrypting it (accessible by clicking on the link or the CNPD’s website). In case of a personal data breach, the organization’s data controller must notify the CNPD of the breach within 72 hours after becoming aware of it if the breach ...

On 18 September 2019, Luxembourg’s National Commission for Data Protection (Commission nationale pour la protection des données, or « CNPD ») published its French-language 2018 annual report. The numbers on complaints are no surprise. Since the entry into force of the GDPR on 25 May 2018, they increased by 125%, almost by 250 complaints, in 2018 alone. The CNPD prepared a chart showing the various reasons for the complaints which you can see below. In addition to reinforcing your security measures, our recommendations are: Make sure to put retention periods into place (you can consult our suggestion table here); Implement a procedure to ...

The Incoterms (INternational COmmercial TERMS) are the rules used by international commercial actors to facilitate their exchanges. These rules constitute an international standard and allow, as soon as a commercial transaction is entered into, to provide for the respective obligations and liability of the seller and the buyer, as well the mechanisms for the transfer of risks concerning the marchandise and the distribution of the various costs. However, the Incoterms remain a tool and not an obligation. The Incoterms are revised every ten years and are published by the International Chamber of Commerce ("ICC"). Thus, Incoterms 2020 have been available ...

CSSF Press Release 19/48 of 11 October 2019 follows up on CSSF press releases 19/41 and 19/43 with respect to the mandatory notification in the context of Brexit and the opening of dedicated CSSF eDesk portals      1. UK managers who have not submitted a notification through dedicated Brexit portal by 15 September 2019 In case of a hard Brexit, UK managers (UK Alternative Investments Fund Managers – AIFMs of alternative investment funds established in Luxembourg (i.e. Luxembourg regulated or non-regulated AIFs; including RAIFs) will not be entitled to continue their activities as from 1 November 2019 under the transitional ...

CSSF Press Release 19/45 of 1 October 2019 confirms that applications for new UCI approvals (UCITS, UCI Part II, SIF and SICAR not yet registered on the official list) must be submitted starting 1 October 2019 via its new eDesk portal. However, a new UCI will benefit from a transition period ending on 31 October during which requests for UCI approval may be submitted vía: email or secured e-file channels using the current dedicated Excel form, or the dedicated eDesk/UCI approval application. Starting 1 November 2019, the only possible channel will be eDesk. Because they are not supervised by the ...