EY released a report that responds to the regulatory environment, applicable to the wealth and asset management, banking and insurance industry from a Luxembourg perspective.
In December 2015, Luxembourg launched a draft law to implement the Reserved Alternative Investment Fund (Fonds d’Investissements Alternatifs Réservés - RAIF) regime. The draft law aims to implement a new unregulated vehicle for alternative investment players which will widen the scope of options to structure private equity, real estate or hedge funds and to significantly reduce the time to market. The Law is expected to be voted and to enter into force in 2016.
Other key regulatory developments were newly initiated by the Luxembourg Presidency of the Council of the European Union in the second half of 2015 and put a particular focus on stimulating investment and boosting growth and employment by enhancing regulatory predictability and removing barriers to investment.
Another major initiative of the Luxembourg’s Presidency is the regulatory development regarding the fight against global tax fraud, especially in view of the progress made on the exchange of information or the finalization of the work on the OECD BEPS Initiative. In this publication, some EY professionals analyze potential implications for (captive) insurers in respect of risk and non-recognition.
Other insights also include:
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How to regulate the innovative payments market, especially with a focus on e-commerce and mobile payments?
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A status update on both the US regulations addressing tax treatment of US dividend equivalent payments and recent Luxembourg developments to comply with the OECDs’ common reporting standard.
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The impacts of regulatory developments on the application of VAT on depositary bank services in terms of methodologies and criteria to compute the taxable basis for fees occurred on supervision and control functions that may become obsolete.
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Insight on new trends in transparency and controls: The disclosure of non-financial information in the information age – how far should one go?
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