Luxembourg Update Publication of Draft No Deal Brexit Legislation
With the Brexit deadline fast approaching, certain EU member states are taking precautionary steps to ensure an orderly national transition in the event the UK leaves the EU without a withdrawal agreement and no transitional period ("Hard Brexit"). In this context, a draft law (the "Draft Law") concerning measures to be taken in respect of the financial sector in the event of a Hard Brexit was introduced to the Luxembourg Parliament on 31January 2019. The Draft Law, once passed, will apply from 29 March 2019.12 Feb 2019
