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Private equity funds increasingly face investor demand for EUR-denominated commitments, creating complex currency risk management challenges. This analysis explores three structural approaches to accommodate EUR investors while balancing foreign exchange exposure, operational costs, and fund firepower considerations.

The European Patent Office's Enlarged Board of Appeal has issued a landmark decision in G 1/25 "Hydroponics," addressing a fundamental question that has divided practitioners for years: when patent claims are amended during examination, must the description be adapted to match? The ruling establishes that inconsistencies between claims and descriptions only require correction when they result in non-compliance with the European Patent Convention, not merely for achieving formal consistency.

Luxembourg's Business Registers will begin enforcing compliance sanctions from September 2026, introducing a graduated penalty system for entities with incomplete or inaccurate RCS and RBE filings. The framework progresses from public warnings to daily fines of EUR 40 and potential deletion from the registers, with entities able to regularise their position at any stage to avoid escalating consequences.