28/05/2013

Financial institutions acting on the basis of the freedom to provide services (“FPS”) may be obliged to cooperate with the financial intelligence unit of the host Member State according to the CJEU

In a recent judgment (Case C-212/11 “Jyske Bank Gibraltar Ltd”), the CJEU has ruled that EU law does not preclude host Member State legislation from imposing on financial institutions operating in this Member State on an FPS basis (without being established there) the obligation to cooperate directly with the host Member State authorities on ML/TF matters relating to its operations in such State.

Find below the full newsflash.

YOU MIGHT ALSO WANT TO DISCOVER

06/12/2022
A new legal framework in Luxembourg for a more effective application of competition rules

On 24 November 2022, the Luxembourg Chamber of Deputies adopted bill no 7479A on competition (the “Law”), which aims to provide the Luxembourg competition authority with the necessary means to implement competition rules more effectively.

Read More_