Jan-Dirk Wackie Eysten

🏢 Arendt advised Astorg as Luxembourg counsel in connection with the closing of its eighth fund, Astorg VIII, at €4.4 billion in capital commitments, exceeding its prior flagship fund, Astorg VII. 📰 More details about this deal here > https://lnkd.in/eCfwBttG Arendt team members involved in: 📊 Investment Management > https://lnkd.in/e7t-TqM Gilles Dusemon, Carl de La Chapelle, Pierre Zaccuri, Philippe Pinto, Clara Veillon and Antoine FLAMBARD 💡 Tax > https://arendtl.ink/tax Vincent Mahler and Caroline Partoune 🔃 VAT > https://lnkd.in/e_-pjyie Sophie Weyten 🏢 Banking & Finance > https://lnkd.in/dQWjmGf Grégory Minne and Léopold Meyers #Luxembourg #Law #Deal #Funds #Investment #Tax #VAT #InvestmentManagement #Banking #Investors #Investment

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[📣 🚨 𝗡𝗲𝘄 𝗣𝗮𝗽𝗲𝗿 𝗿𝗲𝗹𝗲𝗮𝘀𝗲: 𝗜𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝗼𝗳 𝗗𝗲𝗯𝘁 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 𝗶𝗻 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴] 𝗜𝗺𝗺𝗼𝗯𝗶𝗹𝗶𝘀𝗮𝘁𝗶𝗼𝗻, 𝗗𝗲𝗺𝗮𝘁𝗲𝗿𝗶𝗮𝗹𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗯𝗲𝘆𝗼𝗻𝗱 We are thrilled to announce the release of a comprehensive paper on the issuance of debt securities in Luxembourg prepared by the LuxCMA Listing Act Working Group, in collaboration with the Market Infrastructures team. Check it out now on our website! 📄 This document delves into the evolving landscape of dematerialised securities, whether issued in the form of a global note or as fully dematerialised instruments. The objective of this publication is to provide an insight into the comprehensive capital markets ecosystem existing in Luxembourg and in this way assist issuers in identifying opportunities to enhance efficiency in the areas of issuance and post-trade services for debt securities. 🔍 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: - 📊 Detailed analysis of the current state of dematerialised securities in Luxembourg - 📈 Strategic recommendations for issuers and investors - 📚 Insights into Luxembourg’s regulatory environment and future developments We invite all stakeholders in the financial sector to explore this insightful publication and join the conversation on the future of securities issuance. 📅 Save the Date! 𝗧𝗵𝗲 𝗵𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗽𝗮𝗽𝗲𝗿 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗱𝗶𝘀𝗰𝘂𝘀𝘀𝗲𝗱 𝗮𝘁 𝗼𝘂𝗿 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗗𝗮𝘆 𝗼𝗻 𝟮 𝗝𝘂𝗹𝘆. Don't miss this opportunity to engage with industry leaders and gain deeper insights into the future of dematerialised securities. Read, download & share this useful paper! ➡️ https://lnkd.in/e969PeJE Stay tuned for more updates and discussions! #LuxCMA #DematerialisedSecurities #Finance #ListingAct #MarketInfrastructures #DigitalTransformation #SecuritiesIssuance #CapitalMarkets

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The Swiss Federal Tax Administration (SFTA) has issued a clarifying update that offers substantial relief to domestic companies involved in M&A transactions as intra-group intermediaries. In this Swiss Tax Alert, our experts summarise the official promulgation published by the SFTA on 1 November 2024 and explain how it removes some key uncertainties and reduces the tax burden for Swiss M&A participants Learn more here: https://okt.to/Fv6QDh #AMon #SwissTax #SFTA #Transactions #Mergers #Acquisitions

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Swiss Banking Giant Lombard Odier Faces Money Laundering Charges One of Switzerland's oldest and most prestigious private banks, Lombard Odier, has been indicted for "aggravated money laundering" by Swiss prosecutors. The charges stem from the bank's alleged role in concealing proceeds from a criminal enterprise linked to Gulnara Karimova, daughter of Uzbekistan's late president. Currently imprisoned in Uzbekistan, the 52-year-old former diplomat and pop singer (known as "Googoosha") faces multiple convictions in her home country. Swiss prosecutors indicted her last year for alleged participation in the scheme, which involved bribes from telecommunications companies seeking contracts in Uzbekistan. 🎤🎶🎵 Below - famouse clip of 'Googoosha' - "RoundRun". Key Details: • The case centers on nine suspicious bank accounts opened between 2008-2012 • A former Lombard Odier employee has also been charged • The bank managed CHF 296 billion ($336 billion) in client assets as of last year • Investigation began after Lombard Odier self-reported suspicions to authorities in 2012 The prosecutors allege the bank failed to follow anti-money laundering standards and its own internal guidelines while managing accounts connected to "The Office" - an organization allegedly used to channel hundreds of millions in telecom bribes through Switzerland. Lombard Odier strongly denies all allegations, calling them "unfounded and without merit." The bank, founded in 1796, emphasizes its full cooperation with authorities throughout the investigation. #SwissBanking #Finance #Compliance #AML #Banking #FinancialNews #Switzerland #MoneyLaundering #BankingRegulation #FinancialServices #WealthManagement This story is developing... [Follow for more financial sector updates and analysis] https://lnkd.in/dJ_7HbgH

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[PRESS ARTICLE] 🏦 Fund Financing: Investors in the Spotlight As the realm of fund finance evolves, the role of investors becomes increasingly pivotal, be it in the subscription line world but also in the NAV world. In this month’s edition of AGEFI, Melinda Perera and Thibaud Muller explore the dynamics between investors, General Partners, and lenders, throughout the main types of fund financings. Key insights include: ✔ Improved due diligence for lenders regarding rights of investors and restrictions affecting investors. ✔ Enhanced transparency and reporting demanded by investors in the context of NAV financing. For detailed analysis and expert recommendations, read the full article 👇 https://lnkd.in/dqYbGgA #FundFinancing #Investors #AGEFI

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Joachim Cour, partner, and Camelia Dumitru, associate, had the opportunity to talk on Paperjam about key differences between Luxembourg Part II Funds and ELTIFs and how each tool can help a manager to democratize its offer and reach out to non-professional investors. Their perspectives shed light as well on the EU objectives and the reasons why alternative investment managers are interested in non-institutional capital. Read the full article to uncover their insights: https://lnkd.in/eYK-UNjW   #Press #PartIIFunds #ELTIF #ElvingerHossPrussen #Luxembourg #LawFirm 

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Indirect Swiss real estate investment has become increasingly recognized as an efficient instrument for diversification and resilience throughout various economic scenarios, despite starting off as a niche portfolio holding over 15 years ago. Read our latest Top 10 interview to find out how our passion for real estate and long-standing expertise in this market has been generating added value for clients over various economic scenarios. https://bit.ly/3WRa5CY #assetmanagement #alternatives #realestate #privatemarkets

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🚨 Swiss-UK Legal Update: The Swiss Government has submitted today to the Swiss Parliament the Swiss-UK Financial Services Agreement (signed in December 2023). This Agreement is based on a mutual recognition of the Swiss and UK financial regulations and facilitates the provision of services to wholesale and sophisticated clients in the fields of banking, asset management, capital markets and insurance. As the ratification process in the UK is also underway, the entry into force of this Agreement is expected for the second semester 2025. In our view, this Agreement is important for three reasons: 1. It symbolizes the cooperation between two important European financial centres, which are both outside of the EU. 2. It should benefit Swiss financial institutions by improving their ability to serve wealthy private clients in the UK . 3. It might serve as a template for similar agreements between Switzerland and other financial centers such as Japan, Singapore or Australia. See below the news published by the Centre de droit bancaire et financier (Center for Banking and Financial Law of the University of Geneva). We at OBERSON ABELS SA have also published a Legal Update summarizing the concrete implications of this Agreement. This Legal Update is available at: [email protected]

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As the corporate world increasingly prioritizes sustainable practices, addressing social issues like diversity and inclusion, labor standards and community engagement is more crucial than ever. At Arendt & Medernach, we are committed to helping organizations navigate these responsibilities effectively and ethically. Our upcoming "Midi de l'entreprise" seminar will feature both legal and technical experts (Sophie Öberg, Priscilla Talbot from IMS and Lorraine Chéry and Caroline Fort from Arendt & Medernach's employment law team) who will discuss compliance frameworks and best practices for respecting labor rights and promoting diverse, equitable workplaces. We will see how companies can align their strategies to create positive societal impact while meeting regulatory and operational expectations. Whether you're in legal, compliance, HR, or executive leadership, this seminar will provide valuable insights on integrating social values into your business strategy. Let's shape a future where profits and purpose go hand-in-hand. 🌱🤝 We look forward to seeing you there! #ESG #SocialImpact #Sustainability #CorporateResponsibility #DiversityAndInclusion #LawFirm #ESGStrategy #SustainableBusiness #Seminar #midisdelentreprise

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🇱🇺 Private Wealth Management: spotlights on the SPF Today we would like to put the spotlights on the Société de Gestion de Patrimoine Familial (“SPF”), the French term for “Private Wealth Management Company”. The SPF is a pure holding company under the legal form of Luxembourg which was designed by the law dated 11 May 2007. It is an attractive vehicle for individuals that can be used to manage and pool private assets in a tax neutral way within the restrictions of the SPF law. 🎉 SPF main advantages: - A tax neutral vehicle - A legal entity distinct from its shareholders - A simple and flexible asset management vehicle that complies with European Community regulatory requirements - A useful asset and estate planning tool ✅ SPF allowed activities: - Holding a stake in a company, if it does not interfere in its management - Holding a portfolio of investments (stocks, bonds under conditions, etc.) - Acquiring real estate through capital companies - On an ancillary basis, making interest-free advance or guarantee the commitments of the company in which it holds a stake ⛔ SPF prohibited activities: - Conducting commercial or industrial activities - Granting interest-bearing loans - Acquiring real estate directly, via partnerships or FCPs - Acquiring IP rights or patents 💰 SPF tax aspects: - No corporate tax nor net wealth tax - No withholding tax on distributions in general - Not a VAT taxable person - Subject to a subscription tax of 0.25%, limited to EUR 125,000 ⏱ Last but not least, in order not to lose the SPF regime, a yearly certification must be done by a Chartered Accountant and filed before 31 July. Any questions about the SPF? Contact our experts!

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🇨🇭Swiss Federal Supreme Court clarifies burden of proof for main tax domicile. A recent decision by the Swiss Federal Supreme Court (2 April 2024, 9C_591/2023) has clarified the burden of proof for determining the main tax domicile of legal entities in an intercantonal context. The Court ruled that if a legal entity has its registered office and place of effective management in two different cantons, its main tax domicile is located at the place of effective management. Patrik Schwarb and Sabrina Gamma from Tax Partner AG, Taxand Switzerland, summarise the decision in more detail. Read more: https://ow.ly/tutT50RQy9p #Tax #TaxLaw #Switzerland

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NIS 2 is a key topic for many industries including our ICT ecosystem. Please reach out my partners Alexandre. Minarelli and Guillaume Carballo for insights on this topic

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Matthieu Chambon launches a Lux-based law firm dedicated to asset management and investment funds. Read more about it here: https://lnkd.in/dvxP7kKu #privateequity #fundformation #lawfirms #serviceproviders #venturecapital #assetmanagement #alternativeinvestments #fundstructuring

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New Changes to Luxembourg Rental Laws: What You Need To Know ! On 1 August 2024, the Luxembourg law dated 23 July 2024 amending the amended law of 21 September 2006 on residential leases and adding a new Article 1714 in the Civil Code entered into force. Find out more in our latest client alert: https://lnkd.in/eUgZUypP For further information on what these developments mean for your organization, please get in touch with Jean-Francois Trapp, Jean-François Findling and Ana Vazquez. Baker McKenzie Luxembourg Baker McKenzie #LuxembourgLaw #ResidentialLeases #LegalUpdate #realestate

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Swiss and non-Swiss legal proceedings relating to the write-down of the CS AT1 capital instruments: Today, on 6 June 2024, NZZ, the leading Swiss newspaper, published a new article on the AT1 matter, written by Eflamm Mordrelle. For those who are interested in this matter and read German or can translate this article, for instance with Deepl Pro, Mr Mordrelle provides an interesting summary of the current status of the various Swiss and non-Swiss legal proceedings related to the AT1-write-down in question. Among other things, Mr Mordrelle writes what follows in relation to the above-mentioned proceedings (translated into English): "(...) (T)he points of contention revolve around the question of whether the conditions were met in the CS case to order a write-off, especially since the federal government also issued an emergency decree." Regarding the above-mentioned point, I published an article in December 2023 in the Swiss legal magazine AJP/PJA on this issue of contention (see in this regard: https://lnkd.in/dvPRCWyF). The publisher of AJP/PJA, Dike Verlag AG, will shortly allow me to publish a PDF of the full article (after a six months blocking period). Once I obtain the publisher's green light, I will post my full article on this platform. Another aspect that this new NZZ-article addresses are the proceedings pending before the Swiss Federal Administrative Court (SFAC) in St. Gallen, Switzerland (translated into English): "The majority of the appeals against the Finma ruling were submitted to the (SFAC) in St. Gallen. To date, 320 proceedings involving 3,000 complainants are ongoing. The court is confronted with an unprecedented flood of complaints that is difficult to manage. The proceedings have been dragging on for months." Dragging on for months is correct, unfortunately. Actually, various complainants filed their complaints against FINMA's write-down-order in question more than a year ago, and until today, they have not even received copies of FINMA's and UBS's replies to their complaints. It is not easy to explain to foreign clients that the cases before the SFAC proceed at such a slow pace. As is mentioned by Mr Mordrelle in his new article, at this stage, three principal points are open and have to be decided by the SFAC in the proceedings pending before it: (1) Whether or not the right of the AT1 investors to appeal the relevant FINMA write-down-order before the SFAC is to be affirmed, what is denied by FINMA and/or UBS; (2) whether the AT1 investors who filed complaints with the SFAC may inspect the relevant FINMA files, something that FINMA and/or UBS are objecting against; and (3) whether the conditions were met back in March of 2023 to order a total write-down of the AT1-instruments issued by CS (see further above). As is mentioned in the NZZ article discussed here, not only Swiss but also foreign investors and the media are closely watching how these points will be decided in Switzerland. #finance #law

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🆕« 𝐎𝐮𝐫 𝐖𝐞𝐞𝐤𝐥𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 » In our weekly highlights our team provides a weekly update on the performance of the main indices, the publication of upcoming macroeconomic indicators and the reaction of the financial markets. Discover this week's edition via the link shared by ELITE News ⤵️ 𝘐𝘧 𝘺𝘰𝘶 𝘥𝘰 𝘯𝘰𝘵 𝘩𝘢𝘷𝘦 𝘢𝘤𝘤𝘦𝘴𝘴 𝘵𝘰 𝘵𝘩𝘦 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮 𝘺𝘦𝘵, 𝘧𝘦𝘦𝘭 𝘧𝘳𝘦𝘦 𝘵𝘰 𝘴𝘦𝘯𝘥 𝘢𝘯 𝘦𝘮𝘢𝘪𝘭 𝘵𝘰: 𝘪𝘯𝘧𝘰@𝘦𝘭𝘪𝘵𝘦-𝘯𝘦𝘸𝘴.𝘤𝘰𝘮 Leleux Fund Management and Partners Carlo-Luigi Grabau & Laetitia De Noyette & Tom Raemdonck 🔔 Follow us for content about our company, our expertise in independent multi-management and other relevant branch-related content. 𝘊𝘰𝘮𝘮𝘶𝘯𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘳𝘪𝘤𝘵𝘭𝘺 𝘳𝘦𝘴𝘦𝘳𝘷𝘦𝘥 𝘧𝘰𝘳 𝘱𝘳𝘰𝘧𝘦𝘴𝘴𝘪𝘰𝘯𝘢𝘭 𝘤𝘭𝘪𝘦𝘯𝘵𝘴 #Coresatellitesolution #assetmanagement #investmentfunds #activemanagement #fundselection #financialmarkets #macroeconomy

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📣 The recently published Monterey Insight Luxembourg Fund Report 2024 shows Elvinger Hoss Prussen as one of the leading law firms in the Luxembourg asset management industry and the market leader in assets under management for regulated funds. Monterey Insight is a leading independent fund industry research company that provides the only comprehensive report of service providers for all investment funds serviced in UK, Luxembourg, Ireland, Jersey and Guernsey. The Monterey Insight’s Fund Report is a practical reference work that includes rankings and listings as at 31st December 2023 for different types of service providers in the fund industry: Administrators, Auditors, Custodians/Depositaries, ManCo/AIFM, Promoters/Initiators, Transfer Agents and Legal Advisors Read the full article here: 👉 https://lnkd.in/exK9vAk2

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Congratulations to Elvinger Hoss Prussen for being highlighted as a market leader in the 2024 Luxembourg Fund Report! 🏅 Their recognition as one of the top law firms in the asset management industry underscores their expertise in handling regulated funds. The Monterey Insight Report offers a comprehensive view of the service providers, helping shed light on industry leaders. #LuxembourgFundReport #AssetManagement #LegalExcellence #IndustryData

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🗞 Check out our latest article on Forbes where Ella Zimmermann and Akram Ojjeh talk about Litigation funding and the attractiveness of investing in this market. #Litigationfunding #Investment #Switzerland #Law #Litigation #Finance https://lnkd.in/eHZmiSfN

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