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By Laurent MASSINON, Partner Cindy Van Rossum, Associate DLA Piper
On 21 May 2021, the Law of 20 May 2021 (Law)1 was published on Mémorial A amending, among others, the law of 5 April 1993 on the financial sector, as amended (LFS).
The Luxembourg laws which are amended by the Law relate to all the basic obligations of entities (particularly credit institutions) supervised by the Luxembourg Supervision Commission of the Financial Sector (Commission de Surveillance du Secteur Financier) (CSSF) and, to a lesser extent, the Luxembourg insurance sector supervisory authority (Commissariat au Assurances) (CAA). Particular attention needs to be paid to several amendments made to the LFS, as explained below.
History of...
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