Law

Whistleblower protection: from EU Directive to Luxembourg law

Here in Luxembourg, the transposition of EU Directive 2019/1937 on the protection of persons who report breaches of Union law (whistleblowers) is still in progress. EU member states have until 17 December 2021 to implement this directive into their national legislations. Until today, Luxembourg law has provided limited protection to whistleblowers (unless the […]

Internally generated GDPR module: to capitalize or not to capitalize?

Did you know that IAS 38 Intangible Assets is almost half a century old? In fact, the first exposure draft dates all the way back to 1977. So, if you think that the first portable computer was only produced in 1981, you can get an idea of just how old it is and how different technology was at that time. In the Digital Era where intangible assets are a company […]

US GAAP: an acceptable accounting principle in Luxembourg?

As more and more US-based asset managers choose Luxembourg for their next alternative investment funds (AIFs), the question they invariably ask is whether they can keep the accounting principles they are using for their current structures: United States Generally Accepted Accounting Principles (US GAAP). Many of these asset managers also run parallel funds al […]
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