The Blockchain Disruption

Blockchain could well be the next revolution in the banking and finance industry and beyond. Behind the concept of blockchain lies a disruptive force for financial services and potentially for many other industries. Some analysts see in blockchain a “Uberization” of financial services. The disintermediation process generated by blockchain technology may create a huge loss for banks.


Blockchain is an immense data base with three major consequences: massive savings, accelerated transactions and surpassing security.


Blockchain makes it much simpler, much more transparent and much more secure to move money, and without intermediaries. With blockchain, it is also simpler to receive money from expatriates living abroad. It has the potential to open many doors within many industries.


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New ranking

Linari Law Firm is glad to announce its new recognition for the coming year.

For years now Linari Law Firm has been ranked by the IFLR1000, the guide to the world's leading financial law firms.

The IFLR1000 team conducted once again its research on our law firm and concluded with the following ranking :

  • Investment Funds – Tier 4
  • Financial and Corporate – Tier 4

We are a IFLR1000 recommended law firm for 2016 !
















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Reminder on the Luxembourg regime on the immobilization of bearer shares

Luxembourg adopted on 28 July 2014 a law in relation to the immobilization of bearer shares and their holding through a depositary (the “2014 Law”) in response to recommendations by the Financial Action Task Force and the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The spirit of the 2014 Law is to make more transparent the detention of bearer shares by requiring their custody from an authorized institution established in Luxembourg.


The content of the law deals with:

-   The entities concerned

-   The obligations of the conducting organs of the entities concerned

-  The obligations of the depositary

-  The content of the register

-  The sanctions






Date of entry into force: 

18 August 2014

Last date to appoint a depositary: 

18 February 2015

Date of suspension of voting rights failing deposit: 

18 February 2015

Last date of possible deposit: 

18 February 2016

Beginning of cancellation procedures:

 18 February 2016



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New CSSF Circular 15/606

The new CSSF Circular 15/606 precises certain technical points relating to :


(i) the future transposition into Luxembourg law of Directive 2013/36 / EU (the "CRD IV") on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms  and


(ii) to Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (the "CRR").


It creates two categories of investment firms:

CRR Investment Firms (subject to CRR) and Non-CRR investment firms.


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Promotion d'un nouveau Partner

En ce début d'année 2015, Maître Guillaume Deflandre a été promu Associé. 

Admis au Barreau de Luxembourg en 2004, il avait intégré le cabinet de Maître Vincent Linari-Pierron la même année.  

Il est spécialisé dans le domaine du droit bancaire et financier.