Lydia Challen, Allen & Overy

Lydia Challen
Lydia specialises in all aspects of corporate tax, including M&A, corporate reorganisations and private equity tax. She regularly advises multinational corporate groups in relation to their tax affairs and on structuring issues. On the transactional side, she has extensive experience of advising in relation to disposals by public and private companies, complex financings (including restructurings) and corporate reorganisations. She is a member of the Tax Committee of the Law Society of England & Wales, and chairs its corporation tax sub-committee. She is a regular contributor to consultations with HM Revenue & Customs and the UK Treasury on the development of legislation and tax policy. Lydia Challen is recommended as ‘authoritative and confident'. Legal 500 2014 Interviewees praise the "exceptionally able" Lydia Challen as being "very good at getting to grips with the complexities and cutting through the details." Chambers UK 2015 Lydia Challen earns considerable praise from interviewees, who report that "her technical skills are excellent and her ability to explain complex matters in a simple way is unparalleled." Chambers UK 2014 "The absolutely brilliant Lydia Challen is also held in the highest regard by clients". Chambers UK 2012
09.15-10.00

The magnitude of the current relationship of cross-border funds with the UK – What is at stake?

  • Current operating and delegation models between UK and the European asset management industry
  • Distribution models
  • Facts and figures

10.00-10.45

CSSF Circular 18/698: Substance, delegation and governance

Deep dive into CSSF requirements on substance and delegation as well as organisational considerations  


11.15-11.45

Tax Considerations

  • Impact for the ManCos
  • What impact for funds and investors
  • Transfer of service contracts to an EU entity
  • Termination of a contract vs. disposal of business
  • Particular considerations in the context of PE & RE

14.25-15.10

Practical examples of addressing Brexit challenges

  • Asset managers recount their experiences

15.40-16.10

The people and the place

  • Living and working in Luxembourg
  • What skillset for Luxembourg?
  • Relocation
  • Dual employment contracts
  • Your tax bill
  • Independent directors
  • Directors, senior managers and conducting officers

16.10-17.00

What does the future hold for European asset management?

  • Third-country access through equivalence; the way forward
  • Transition period
  • ESA review, recent developments from EU Commission, ESMA and the UK
  • Third-country passport under AIFMD: will it work?
  • Brexit: what spillover effect on asset managers in the US, Asia and other jurisdictions?