Legal news

No transition period has been granted by the supervisory authority in Luxembourg (CNPD). In the face of the twists and turns surrounding BREXIT, it is better not to remain inactive but rather to sign standard contractual clauses with your partners today. If your group of companies is concerned, you might want to think of establishing an intra-group agreement and appointing a representative, subject to conditions precedent, if appropriate. Such an agreement would also allow you to effectively resolve issues related to Article 28 (processor and sub-processor). Our Digital team is at your disposal to assist you with your compliance as well as ...

CSSF Press Release 19/50 of 18 October 2019 follows up on CSSF press release 19/28 with respect to the mandatory PRIIPs assessment SIFs, Part II UCIs and SICARs have to complete online PRIIPS Assessment by 31 October 2019 at the latest on the CSSF eDesk portal. SIFs, Part II UCIs and SICARs are entitled to delegate the completion of the online assessment to their central administrations or management companies. Please also refer to: DSM legal news of 31 July 2019 For any other information, please contact Me Virginie Leroy or Me Renaud Le Squeren.  

A little more than one year after the entry into force of Regulation (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (the General Data Protection Regulation or "GDPR"), it seems there still remain many gray areas. This is particularly true with respect to retention periods for different categories of data collected and processed by data controllers. To that end, DSM Avocats à la Cour presents a summary table for the Luxembourg GDPR retention periods for the personal data that is most often collected and processed ...

On 12 July 2019, the Official Journal of the European Union (OJ) published a new EU cross-border distribution directive and regulation. In Part 2 below, we discuss the new regulation, Regulation (EU) 2019/1156 of the European Parliament and of the Counsel of 20 June 2019 on facilitating cross-border distribution of collective investment undertakings and amending Regulation (EU) Nos 345/2016, 346/2013 and 1286/2014 (the “Cross-Border Distribution Regulation”). The latter regulation, 1286/2014, is on packaged retail and insurance-based investment products (PRIIPs) (the “PRIIPs Regulation”).   The Cross-Border Distribution Regulation includes the following significant features:  1. Requirements for marketing communications (applicable from 2 ...