25 September 2021

RJ GAITO Transaction and Regulatory News


Luxembourg introduces a register of ultimate beneficial ownership

Mar 04 2019

On 13 January 2019 – with the 4th 'AML Directive' of May 2015 (the AML Directive), Luxembourg introduced a Register of Beneficial Owner ('RBO') (a.k.a Registre des Bénéficiaires Effectifs).

The law of 13 January, 2019 (the 'Law'), published on 15 January 2019, established the RBO thereby transposing article 30 of the AML Directive.

AML in the context of international transactions

Jul 15 2018

The Luxembourg prevention of money laundering and terrorist financing is embodied in the Law of 12 November 2004 and recently amended by the Law of 13 February 2018 (the 'AML Law'). The AML Law firmly reinforces the requirements of inter alia, financial institutions and a variety of service providers such as lawyers, trust service providers, auditors and accountants to identify the beneficial owners of their customers. This is often referred to as 'Know-Your-Customer' ('KYC') and also requires such service providers to make a risk assessment of money-laundering and fund originations now often referred to in the banking industry as 'Know-Your-Transaction' ('KYT').

Israeli Food Tech startup, Solo Gelato Ltd, receives 2 seed rounds from lead Luxembourg investor

May 18 2017

Ronnen J. Gaito comments, "We were pleased to continuously provide support for our clients from the seed phase, add-on investments to exist.  It is a further enhancement of our track record in venture capital and complex technology transactions as well as an additional dimension to our cross industry technology experience in IT, software, Fintech, Cleantech, communications and satellite technology, equipment manufacturing, clean energy and Pharmaceuticals.

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