Latest Newsletters & Newsflashes
Dec 08, 2021Newsflash | The Reverse Hybrid Entity Rule in a nutshell
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
Dec 06, 2021Sustainable Finance Insights Series - 14 | ESA’s final report on sustainability - related disclosures - 22 October 2021
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
Nov 25, 2021Newsflash | Holding meetings in companies
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
Nov 08, 2021CSSF Circular 21/785: new notification regime for material IT outsourcing
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
Oct 22, 2021Focus | Immigration Overview in Luxembourg
A useful guide on immigration in Luxembourg which gives an overview on the different entries and residence permit requirements. Whether you are a EU citizen, a third country national or a UK national after Brexit, our employment & immigration law experts prepared this practical guide to help you
Oct 21, 2021Newsflash | Tax measures announced in 2022 Draft Budget Law
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
Oct 12, 2021BSP Newsletter | October 2021
This newsletter is intended as a general discussion of the following topics: Banking & Financial Services, Corporate and M&A, Employment, Compensations & Benefits, Investment Management, Tax. If you would like to know more about the topics covered in this newsletter or our services, do not hesitate to contact the newsletter contributors or your usual BSP contact.
Oct 12, 2021Amendments to AIFM Regulation and UCITS Directive to integrate sustainability considerations
The proposed sustainability amendments to Directive 2010/43/EU (the “ UCITS Directive”) and to Delegated Regulation (EU) 231/2013 (the “ AIFM Regulation”) integrating sustainability considerations into the organisational, operating and risk management obligations of authorised alternative investment
Oct 12, 2021Performance fees declaration
On 22 September 2021, the Commission de Surveillance du Secteur Financier (“ CSSF”) published (the “ Communication”) on its website inviting investment fund managers (“ IFMs”) to proceed with a declaration regarding performance fees (the “ Declaration”). The Communication has been issued in the
Oct 12, 2021European Commission’s response to questions on the interpretation of SFDR
On 14 July 2021, the European Commission (EC) responded to the letter of 7 January 2021 addressed to it by the European Supervisory Authorities (ESAs) in relation to the application of Regulation (EU) 2019/2088 on sustainability - related disclosures in the financial services sector ( “ SFDR”). The
Oct 01, 2021Draft law on the right to disconnect
On 28 September 2021, the Luxembourg Minister of Labour filed a draft law n°7890 (hereafter the “ Draft Law”) with the Luxembourg Parliament ( Chambre des Députés) aimed at introducing into the Luxembourg Labour Code the obligation for each company to define precisely the rules governing the right
Oct 01, 2021Payments services and e-money | New delegated regulation
On 28 September 2021, the Commission Delegated Regulation (EU) 2021/1722 of 18 June 2021 (the “ Regulation”), supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council (the “ Payment Services Directive”, “ PSD2”) with regard to regulatory technical standards specifying the