Newsletters & Newsflashes

On 2 June 2022, the European Supervisory Authorities (“ ESAs”) provided clarifications on the ESAs’ draft RTS issued under Regulation (EU) 2019/2088 on sustainability–related disclosures in the financial sector (“ SFDR”). Such clarifications concern the draft RTS included in the final report with

Background Directive 2009/65/EC of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (“ UCITS”) as amended (the " UCITS Directive”), as well as Directive 2011/61/EU of 8 June 2011 on

Due to the development of teleworking in the context of the COVID-19 pandemic, the question of taxation and social security affiliation of cross-border workers has been debated. In response to the COVID-19 pandemic, the Luxembourg Government agreed in early 2020 on exceptional and temporary measures

On 31 May 2022, the European Securities and Markets Authority (ESMA) published a supervisory briefing on sustainability risks and disclosures in investment management area ('' Briefing''). The briefing is addressed to EU National Competent Authorities (NCAs). ESMA has developed this supervisory

Purpose and Scope In January 2020, the CSSF published its first Sub-Sector Risk Assessment (“ SSRA”) on money laundering/terrorist financing (“ ML/TF”) risks faced by the collective investment sector. The conclusions drawn in this first assessment were based on quantitative data collected through

In line with the Government’s will to encourage a more equal sharing of family responsibilities between women and men, two draft laws No.8016 and No.8017 have been presented in June before the Luxembourg Parliament ( Chambre des Députés) (together the “ Draft Laws” and each a “ Draft Law”). The

The first cornerstone: the adoption of the Markets in Crypto-assets (“MiCA”) regulation On 30 June 2022, the European Parliament and Council reached a provisional agreement on the MiCA regulation (the " MiCA Regulation"), providing a long-awaited legal framework for crypto-assets. The MiCA

Since we last provided an update on ESMA's Questions and Answers (" Q&As") on Directive 2014/65/EU of 15 May 2014 on markets of financial instruments (" MiFID II") and Regulation (EU) 600/2014 of 15 May 2014 on markets of financial instruments (" MiFIR") in our January 2021 newsletter, the following

On 13 April 2022, ESMA published updated guidelines on delayed disclosure of inside information (the " Guidelines") pursuant to Regulation (EU) 596/2014 of 16 April 2014 on market abuse (" MAR"). The purpose of the Guidelines is to provide a non-exhaustive list of legitimate interests of issuers

On 16 May 2022, the Commission de surveillance du secteur financier (the “ CSSF”) issued Circular 22/811 on the authorisation and organisation of entities acting as UCI administrators (the " Circular"). In the Circular, the CSSF repeals Chapter D of IML Circular 91/75 setting out the rules

On 31 May, 2022, the Luxembourg tax authorities (“ LTA”) issued a new circular (the “ Circular”) on defensive measures against non-cooperative jurisdictions. This Circular replaces a previous circular (dated 2018) on the same subject and follows the introduction, in 2021, of Article 168 (5) of the

On the 14th of June, the Luxembourg parliament adopted the draft bill no 7452 aiming to finalise the transposition of directive no 2014/42/EU of the European Parliament and of the Council on the freezing and confiscation of instrumentalities and proceeds of crime in the European Union (the “Law”)