DLA Piper in Luxembourg

Wherever you are and whatever you're celebrating, we wish you and your loved ones all the best for the holiday season. 🌟 From All of us at DLA Piper in Luxembourg

#ArtificialIntelligence is reshaping the #AssetManagement industry - but are asset and fund managers prepared to meet the challenges and seize the opportunities it brings? Alejandro González Vega (Senior Associate, #IPT) and Christoforos Soteriou (Senior Associate, #InvestmentFunds) offer food for thought and practical pointers in their article in the December edition of AGEFI Luxembourg - Le Journal Financier de Luxembourg: - The transformative impact of #AI technologies on the industry, from predictive analytics to robo-advisors - The importance of the EU’s #AIAct and the steps they need to take to navigate this new piece of #regulation - #Luxembourg’s proactive approach to AI adoption, its national AI strategy and investments in technologies.   With #innovation comes responsibility. Asset managers must adapt to new #regulations, implement #compliance strategies, and leverage AI’s potential while building investor trust. 👇 Read the full article to learn how to prepare your organization for the road ahead. Have questions? Don’t hesitate to contact the authors for tailored insights.   💬 What’s your take? Is AI a threat or an opportunity for asset managers? Let us know in the comments below! 

Congratulations to Marta Ochoa Alegría, Associate in the #Tax team, on being sworn in at the #Luxembourg bar.    🎉 We’re #proud to have you on the #team.   #BeCollaborative #BeSupportive #BeBold #BeExceptional

Recent rulings by the Court of Justice of the European Union (#CJEU) and the Luxembourg District Court have clarified crucial points for directors of Luxembourg public limited companies: they are not – in principle – considered independent for #VAT purposes, meaning their activity is not subject to VAT.   💡Key points: ◾Directors are not seen as independent VAT taxable persons if economic risks remain with the company ◾Directors should assess their VAT status and consider applying for regularisation   This is an opportunity to correct past VAT filings, potentially reclaim overpaid VAT, and ensure compliance with the new interpretation.   For more detailed insights on these changes, read the full article by Principal, Aloïs Charpenet, and ensure you're taking the right steps to comply.

Ready to learn more about our #Sustainability goals? Read our 2024 Sustainability Report. As we reach the midpoint of this decisive decade, we're intensifying our efforts to meet our #ESG objectives. Our report reflects measurable strides towards a sustainable future: 🌍 #NetZero: A 41% reduction in emissions since 2019, with a clear path to halving by 2030 and achieving net zero by 2040. ☀️ Switching to #RenewableEnergy: 85% of our UK electricity is renewable, 63% in Europe, with plans for 100% renewable electricity globally by 2030. 👤 #Diversity milestones: Women now make up 26% of our partners - on track for 30% by 2025. 🤝 #ProBono in action: Over 215,000 hours in 2022 alone, averaging 48 hours per lawyer, making a real difference in communities worldwide. We've also published three thematic deep dives - our People, our Societal impact, and Net Zero. These provide more detailed accounts of progress on our most material issues. We don’t just set goals; we deliver progress. 👉 Read our report here - https://lnkd.in/e56vwxhn #Environment #Social #Governance #GreenEnergy #ClimateChange 

On Tuesday 3 December, we hosted and co-organised an event with the ALJB - Association luxembourgeoise des juristes de droit bancaire, to explore the evolving concept of #ValueforMoney (VfM) in the financial sector. Many thanks to our brilliant speakers, David De Cubber, Melvin Tjon Akon and Peter VERMEULEN, who shared a comprehensive overview of this concept.   From the historical development of #VfM to its objectives, key concepts and impact on #life insurance, #investment, and #credit products, the event provided insights into how the financial sector can deliver fairness, transparency and value to consumers while aligning with #regulatory frameworks. 🎯 Key takeaway: As the #FinancialSector embraces change, robust consumer-centric strategies and product governance arrangements will drive the evolution of #VfM, ensuring fairness, appropriate fees, product diversity and innovation across markets.   If you'd like to learn more, feel free to reach out to David or Melvin — they’d be happy to continue the conversation.

Many clients have already started responding to DORA, and we provide integrated advice and implementation support to help funds, and their managers define and achieve a proportionate level of compliance.   Our approach ensures that funds meet regulatory expectations without overextending resources, investing disproportionately, or undergoing unnecessary changes. We address existing gaps, manage known risks, and anticipate emerging issues, enabling clients to fulfill DORA obligations efficiently and effectively.   Check out our new article 👉 https://lnkd.in/e2iA3pf7 For further information, please feel free to contact Olivier Reisch, Dom Fletcher, Catherine Pogorzelski, or your usual DLA Piper partner.

On 15 November, Catherine Pogorzelski, Audrey Mucciante, and Léonie Comte visited the University of Luxembourg, invited by Nadège Meyer-Hamy, Counselor, to present our firm to Master’s students from the Faculty of Law, Economics and Finance - University of Luxembourg.   During this session, they:  1️⃣ Introduced our firm’s activities, providing a clear overview of the diverse roles and opportunities within the business law profession.  2️⃣ Discussed current and future challenges in the field, illustrating how these shape our daily work and decision-making.  3️⃣ Shared personal career journeys, offering relatable insights into professional growth and progression.    The session gave students the opportunity to engage with professionals whose work closely aligns with their academic focus. It was inspiring to see their active participation, with questions leading to a discussion that extended beyond the presentation. 🙌 At DLA Piper, we are committed to empowering and supporting the next generation of legal talent.   Are you a student passionate about law and curious about real-world applications? Take the first step toward an exciting #Career and explore #Internship opportunities with us 👉 https://lnkd.in/e8PV6ADa

On 21 and 22 November, our #IPT team members David Alexandre (Partner) and Alejandro González Vega (Senior Associate) will attend the Festival Legal Corner at the Robert Schuman Congress Center in Metz, France.   The festival will gather key players from the audiovisual industry, providing a unique platform to explore legal issues that directly or indirectly impact the sector. Our team will deepen its well-established knowledge by attending high-profile conferences and engaging with industry professionals. With a focus on delivering top-tier service and building meaningful connections, we aim to support our clients with exceptional insights and opportunities.   💡 Will you be attending? Reach out to David and Alejandro to meet!

On 15 November, we hosted the last alumni event of Duke University School of Law, where Jacques Wantz, Partner and Global Co-chair in Tax, studied. Our new premises provided the perfect setting for reconnecting.   The event was a great opportunity to exchange ideas, expand networks, and strengthen collaboration within Luxembourg's legal community—reaching beyond academic and business ties.   We hope this gathering will spark future initiatives and collaborations that bring value to the community. Stay tuned for upcoming events, and don’t hesitate to join us in shaping what’s next 👉https://lnkd.in/egmAnYnU