Newsletters & Newsflashes

In August 2021, the Luxembourg Stock Exchange (“ LxSE”) published guidelines for the listing of special purposes acquisition companies (“ SPACs“) on its markets, which complement the general admission rules set out in the rules and regulations of the LxSE. The LxSE encourages sponsors and other

Change of Authorisation Process for new UCI and/or new sub-funds In a communiqué of 30 July 2021, the CSSF announced the introduction of a new questionnaire named “ Fund Pre-Inception Readiness Review” to be completed together with the application file relating to the authorisation process of new

The European Commission proposes a new anti-money-laundering draft legislation package to strengthen the EU's anti-money laundering and countering terrorism financing rules On 20 July 2021, the European Commission (“Commission”) presented an ambitious package of legislative proposals to strengthen

On 6 August 2021, ESMA updated its Questions and Answers (“ Q&A”) on the Regulation (EU) No. 596/2014 (the “ Market Abuse Regulation”) to add three new questions regarding disclosure of inside information. With this latest update of the Q&A, ESMA provides further clarity on the implication of the

On 15 July 2021, ESMA issued a public statement (the “ Statement”) providing guidance on prospectus disclosure and investor protection considerations in special purpose acquisition companies (“ SPACs”). Background SPACs are shell companies with no business activity, which are created for the sole

Le projet de loi 7791, visant à clarifier si les règles relatives à l’assistance financière contenues dans la loi luxembourgeoise sur les sociétés commerciales du 10 août 1915, telle que modifiée ( LSC) s'appliquent aux sociétés à responsabilité limitée ( Sàrl), comme expliqué précédemment dans la

The draft law 7791 aiming at clarifying whether the rules regarding financial assistance contained in the Luxembourg law on commercial companies of 10 August 1915, as amended ( LSC) shall apply to private limited liability companies ( SARL), as previously explained in the BSP publication " Amendment

On 28 July 2021, the CSSF issued Circular 21/778, regarding “ Update of the Circular CSSF 11/509 in accordance with Directive (EU) 2019/1160” (the “ Circular”); the Circular amends Circular CSSF 11/509 on “Notification procedures to be followed by a UCITS governed by Luxembourg Law to market its

Last July, Draft Law No. 7861 (the “ Draft Law”) was published containing proposed amendments to the Law 17 April 2018 (the “ Benchmark Law”) that had implemented Regulation (EU) 2016/1011 of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the

In a judgment dated 3 June 2021, the European Court of Justice (“ ECJ”) ruled that own staff is required for a finding of “fixed establishment” within the meaning of Directive 2006/112/EC as amended (the “ VAT Directive”). Facts of the case In the case at hand, a Company with registered office and

On 8 April 2021, the Supreme Administrative Court ( Verwaltungsgerichtshof) of Austria submitted several questions to the European Court of Justice (the “ ECJ”) for a preliminary ruling in connection with invoicing requirements under the EU VAT rules for intra-Community triangular transactions (case

On 23 July 2021, the Luxembourg Minister of Labour filed a draft law No. 7864 (hereafter the “ Draft Law”) with the Luxembourg Parliament ( Chambre des Députés) aimed at introducing into the Luxembourg Labour Code new provisions on the protection of employees against moral harassment at work