Publication of the Omnibus Law in the Luxembourg Official Gazette
The law of 27 February 2018 on interchange fees and amending several laws relating to the financial sector (among others the provisions of the law of 5 April 1993 on the financial sector dealing with professional secrecy and outsourcing and the depositary regime applicable to Part II funds under the law of 17 December 2010 on undertakings for collective investment), the so-called “Omnibus Law”, has been published today in the Luxembourg Official Gazette, Mémorial A (N° 150 of 1 March 2018).
For more information on the Omnibus Law, please click here.
The Omnibus Law will enter into force at midnight (5/6 March 2018). However, provisions relating to interchange fee applicable to domestic payments with a debit card set at 0.12% of the value of the transaction will apply 3 months following the publication of the Omnibus Law.
For more information, please contact a member of your Linklaters Luxembourg team who will be delighted to provide you with any further clarification.