Covid governance problems in Lux

Continued Covid-19 restrictions this autumn are a problem for all fund jurisdictions, but especially for Luxembourg. Many who work there live in Belgium, France or Germany. Making decisions for Luxembourg funds from other countries could well run into regulatory and tax problems if it goes on for much longer.

When international fund jurisdictions imposed emergency measures back in March and April, to enable their fund industries to continue to function with travel bans and home working, the expectation was that everything would be back to normal by the autumn. That isn’t happening.

In this late summer period many countries are reporting increasing number of infections and there is a widespread fear of a second wave in the autumn. Quarantine measures are being imposed with little notice to do everything possible to stop that from happening.

For more on this story see the August edition of The NED.