The PwC DPO voice - Remedies, liability and penalties
The PwC ALLERT Report: EU Version
Regarding the Asset Management industry, both UCITS IV and the AIFMD include the concept of Liquidity Risk in their guidelines. CESR’s (now ESMA’s) level 2 and level 3 guidelines (issued in the context of UCITS IV) clearly emphasise liquidity risk by mentioning it right after market risk in the description of the risks that at least should be covered by the Risk Management Process (RMP).
Carte blanche économique mat PwC Lëtzebuerg: Nummer 8: Global Defense Perspectives
Krisen, Naturkatastrofen a Konflikter hunn dozou gefouert, datt Thema Défense nees méi am Fokus steet a vill Länner hire Verteidegungsbudget erhéicht hunn. E rezente Rapport vu PWC beschäftegt sech mat dësen Entwécklunge, Jacques Vandivinit.
Fiscal Court of Munich refers German dividend withholding tax regime to CJEU in the case of a Canadian pension fund
On 23 October 2017, the Fiscal Court of Munich referred the question to the CJEU whether the German regime of dividend withholding tax (WHT) imposed on a Canadian pension fund is compatible with the free movement of capital provided in Article 63 TFEU (C-641/17, College Pension Plan of British Columbia).
ECJ - German Anti-Treaty-Shopping Rule infringes EU law
On 20 December 2017 the European Court of Justice (ECJ) issued its decision on two cases referred to it by the Cologne Tax Court on the compatibility of the anti-abuse rule in Section 50d Income Tax Act (ITA) with EU law.
Can MiFID II make Financial Markets more efficient after all?
With MiFID II now in full swing, anyone buying or selling stocks, bonds, foreign exchange, commodities or exchange-traded funds is now affected by the new standards. Improving investor confidence while strengthening the industry don't come for free.
MiFID II - watch out for the VAT implications
The revisions to the European Union (EU)'s Markets in Financial Instruments Directive (MiFID II) finally came into force on 3 January 2018, a year later than originally planned.
EMIR: The European Supervisory Authorities issued an amending draft RTS related to the margining of FX forwards with physical settlement
The European Supervisory Authorities (ESAs) issued an amended draft RTS aiming to soften the obligation of variation margins on physically settled FX Forward contracts, where at least one of the counterparties is a non-institution firm (e.g. investment fund), as defined by the Capital Requirement Regulation n°575/2013.
Circular L.G.-A n°61 of 8 December 2017: New rules regarding the issuance of certificates of residence for Undertakings for Collective Investment
With this new Circular, the Luxembourg Tax Authority updated the rules provided in 2015 regarding the issuance of certificates of residence for Luxembourg Undertakings for Collective Investment (UCIs).
What's cooking for 2018? Your ultimate menu to digest regulation and digital
With the year coming to an end, 2018 will prove to be a period of change. In order to make sure you are ready for regulation and digital, we’ve created a special New-Year menu. Enjoy!