Newsletters & Newsflashes

Background On 17 December 2021, the CSSF has published a press release for the attention of issuers of securities subject to the law of 11 January 2008 on transparency requirements for issuers of securities, as amended (the " Transparency Law") and their auditors (the " Press Release"). The CSSF

On 28 October 2021, draft law 7905 (the " Draft Law") on the granting of a state guarantee to support credit lines contracted by the Luxembourg Deposit Guarantee Fund ( Fonds de Garantie des Dépôts Luxembourg (FGDL)) was submitted to the Luxembourg Parliament ( Chambre des Députés). Background The

Background On 17 December 2021, the CSSF issued CSSF Circular 21/788 regarding guidelines for the Collective Investment Sector on the CSSF AML/CFT external report (the “ Circular”). Purpose The purpose of the Circular is to provide guidance on the report dedicated to anti-money laundering and

Background On 15 February 2022, the CSSF will start the annual online survey for the year 2021 (the “ Survey”). The Survey remains mostly unchanged compared to the previous year. However, some questions have been removed, added or amended. For ease of reference, the new questions have been

The case that led to the decision rendered by the European Court of Justice (the “ ECJ”) on 25 November 2021 in case C-437/19 concerns a request for exchange of information by the French tax authorities aiming at identifying the shareholders and ultimate beneficial owners of a Luxembourg public

Background Reverse Hybrid Entity Rule introduced in Luxembourg by the law of 20 December 2019 (hereafter the “ ATAD II Law”) implementing Council Directive (EU) 2017/952 of 29 May 2017, regarding hybrid mismatches with third countries (hereafter “ ATAD II Directive”) will apply as of 1 January 2022

The final report on sustainability-related disclosures, including taxonomy-related disclosures (the “ Draft RTS”), were published by the European Supervisory Authorities (the "ESAs") on 22 October 2021. The Draft RTS set out amendments to the set of rules and mandatory templates for financial

PROPOSED EXTENSION As the Covid 19 pandemic situation continues to have an impact on the sound governance of companies and other legal persons, a bill of law has been filed on 24 November 2021 to extend the possibility for companies to hold their general meetings and other necessary meetings without

For more or less ten years, the Luxembourg financial sector has been increasingly looking and using for IT outsourcing solutions essentially due to costs reduction schemes following the latest financial crisis. On 14 October 2021, the Luxembourg financial market authority (the Commission de

Our Employment, Compensations & Benefits department dig into the leave entitlement for employees in Luxembourg. How many statutory holidays do we have in Luxembourg? How many days of annual paid leave? Which are the additional ordinary and the extraordinary leave? In the following infographic you

Tax measures presented in the Draft Budget Bill On 13 October 2021, the Luxembourg Finance Minister presented its 2022 draft Budget Bill (hereinafter the “ Draft Law ”), which includes no major tax reform consistent with the announcement made earlier this year to postpone the tax reform