Legal news

Joint Article by Mario DI STEFANO and Alessandra MEDINA on “Les étapes de négociation d’un plan social” in AGEFI Luxembourg – July 2020

AGEFI Luxembourg, a Luxembourg financial journal, published a French-language article in its July 2020 edition on The phases of negociation of a social plan (French-language article: Les étapes de négociation d’un plan social) jointly written by Mario DI STEFANO and Alessandra MEDINA. To see the pdf version of the article click here To see the complete June 2020 edition of AGEFI Luxembourg click here: https://www.agefi.lu/publications/FreeMonthlySample/index.html
July 14th, 2020| Legal news

End of the state of emergency: A new law on the holding of company meetings

When the state of emergency officially ended on 24 June 2020, the Grand-Ducal Regulation of 20 March 2020, as amended, which authorized by a series of temporary measures companies and other legal persons to adopt resolutions without holding physical meetings, ceased to be in effect. (See our Webinar) Those measures were replaced by the Law of 20 June 2020 on measures for the holding of company meetings. (Link to the law) Also in the context of the state of emergency, the Law of 22 May 2020 introduced certain temporary derogations to the provisions on the deadlines for the filing and ...
July 9th, 2020| Legal news

GDPR: Judicial Oversight of the French supervisory authority (CNIL) – July 2020

The use of a "cookie wall" which consists of blocking access to an internet site if one refuses to consent to cookies, has largely been punished by supervisory authorities and is even a target in new consent guidelines adopted by the European Data Protection Board (EDPB) in May of 2020 (you may consult our article on this topic by clicking on the following link: https://www.dsm.legal/fr/consentement-et-cookies-luxembourg-rgpd-digitalleuropean-data-protection-board-edpb/). Thus, supervisory authorities consider that this practice forces a user’s consent and consequently the "freedom of consent" requirement, necessary to valid consent, is no longer fulfilled. The French Council of State’s (Conseil d’Etat) decision of ...
July 1st, 2020| Legal news

Review of Webinar on “IT Partners: IT security is also ensured through your contracts—how can you protect yourself if your customers fall victim to a cyber-attack?”

DSM Avocats à la Cour organized a webinar on Tuesday, 2 June 2020, on the topic of "IT Partners: IT security is also ensured through your contracts—how can you protect yourself if your customers fall victim to a cyber-attack?" During the webinar, Renaud LE SQUEREN, Partner and Attorney-at-Law (Avocat à la Cour), and Héloïse CUCHE, Lawyer (Avocat), discussed the new responsibilities of IT service providers and the manner in which they can use their general terms and conditions to protect themselves in a context in which the risk of a cyber-attack increases as economic actors use new technologies. First step ...
June 22nd, 2020| Legal news

Joint Article by Marie-Paule GILLEN and Renaud LE SQUEREN on IT Outsourcing in the Financial Sector in AGEFI Luxembourg – June 2020

AGEFI Luxembourg, a Luxembourg financial journal, published a French-language article in its June 2020 edition on IT outsourcing in the financial sector (La sous traitance informatique dans le domaine financier) jointly written by Marie-Paule GILLEN and Renaud LE SQUEREN. To see the pdf version of the article click here: AGEFI Luxembourg Marie Paule GILLEN Renaud LE SQUEREN DSM Avocats à la Cour La sous traitance informatique dans le domaine financier
June 16th, 2020| Legal news

Extension of deadlines for tax information exchanges during the COVID-19 crisis: “DAC 2” and “DAC 6” and FATCA impact – 9 June 2020

Long discussions ensued at the European level following the 08 May 2020 directive proposal aimed at responding to the urgent need to postpone certain deadlines for the declaration and exchange of tax information due to the COVID-19 pandemic (the "Amending Directive"), following which a compromise was reached during the 03 June 2020 Coreper, or Permanent Representatives Committee, meeting. Thus, the Member States will be granted the option to extend by 3 months the deadlines by which to communicate the information under Article 8 (6) (b) of Directive 2011/16/EU, as introduced by Directive 2014/107/EU ("DAC 2"), with respect to data for ...
June 9th, 2020| Legal news

Outsourcing data to the Cloud: participation in the European Securities and Markets Authority’s consultation – 9 June 2020

On 3 June 2020, the European Securities and Markets Authority (ESMA), the goal of which is to improve investor protection and promote the stability and proper functioning of financial markets, opened a consultation on its draft guidelines on outsourcing to cloud service providers. The purpose of this consultation is to provide guidance on the requirements for outsourcing applicable to financial market actors when they subcontract to cloud service providers. This consultation invites the competent national authorities and financial market actors as of 3 June 2020 to provide comments on the: governance, documentation, oversight and monitoring mechanisms that firms should have ...
June 9th, 2020| Legal news

COVID-19: Deadline extension for approval and filing/publication of annual/consolidated accounts – 3 June 2020

By the Law of 22 May 2020, published on 29 May 2020 in Luxembourg’s legislative journal, Mémorial A (the ʺLawʺ), the Luxembourg parliament decided to extend by 3 months the deadline for filing/publication of annual accounts, consolidated accounts as well as the associated reports and the sanctions imposed on directors/managers, under the laws of (i) 10 August 1915 on commercial companies, and (ii) 19 December 2002 on the trade and companies registry as well as company accounting and annual accounts, both as amended. The Law entered into force on the date of its publication in the Mémorial A. Moreover, companies ...
June 3rd, 2020| Legal news

The phases of a return to the new normal in Luxembourg – 28 May 2020

After the reopening of construction sites on 20 April and the return to the school benches for students on 11 May, Luxembourg’s prime minister Xavier Bettel announced the reopening of all restaurants and cafés by this Friday, 29 May. Gyms as well as movie theaters may also reopen their doors and gatherings of over 20 persons are authorized (places of worship, sporting events, conventions). The preventive measures must still be complied with (including maintaining an interpersonal distance of 2 meters complemented by the wearing of a mask when that is not possible), and in certain cases social distancing of 1.5 ...
May 29th, 2020| Legal news

New emergency aid for Luxembourg self-employed – 18 May 2020

Because of the current pandemic, on 6 May the Luxembourg gouvernement on the proposal of the Ministry for Small and Medium-Sized Enterprises took the decision to improve the support for self-employed individuals experiencing financial difficulties by setting up further non-repayable emergency assistance. The application form to benefit from this aid is available by clicking here. The aid is in the form of a one-time lump-sum allowance, and depending on the income bracket of the person concerned, the amounts granted are set at: EUR 3 000, EUR 3 500 or EUR 4 000. This assistance may be granted in addition to that granted ...
May 18th, 2020| Legal news

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