Latest Newsletters & Newsflashes
Jan 20, 2021ESMA updated Q&As for Prospectus and Transparency Rules linked to Brexit
Prospectus and transparency Q&As On 9 November 2020, ESMA updated its Questions and Answers (Q&As) concerning Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on
Jan 15, 2021Teleworking for Belgian, French and German Cross-Border Workers once again extended
As previously detailed in our newsflash dated 19 March 2020 (as updated) the Luxembourg Government has once again agreed on an “exceptional measure” with the Belgian, French and German Governments regarding the taxation of Belgian, French and German cross-border commuters normally working in
Jan 15, 2021Luxembourg Lower Administrative Court annuls Exchange of Information Injunction
In a judgment dated 4 December 2020, the Lower Administrative Court ( Tribunal administratif) annulled an injunction issued by the Luxembourg tax administration (“ LTA”) pursuant to a request for information from the Spanish tax authorities. The injunction was addressed to a Luxembourg company and
Jan 05, 2021CSSF Press Release on UK Equivalency under MiFIR and ESMA Reminder regarding Reverse Solicitation
The United Kingdom has been included in the list of jurisdictions, which are deemed equivalent for the application of the national third-country regime in Luxembourg. On 23 December 2020, CSSF Regulation No. 20-09 of 14 December 2020, amending CSSF Regulation No. 20-02 of 29 June 2020 on the
Jan 04, 2021New CSSF Submission Form for filing Final Terms
New Final Terms submission form Since 30 November 2020, final terms (the “Final Terms”) relating to a prospectus published in accordance with Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the
Jan 03, 2021New Luxembourg Draft Law transposing IFD and IFR
The purpose of the draft law 7723, submitted to the Luxembourg Parliament ( Chambre des Députés) on 27 November 2020 (the “ Draft Law”) is to: transpose into Luxembourg law Directive (EU) 2019/2034 of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87
Jan 03, 2021Updated ESMA Q&As on Securitisation and ESMA Guidelines on Securitisation Repositories
On 5 October 2020, ESMA published its final report (the “ Final Report”) on the guidelines (the “ Guidelines”) on portability of information between securitisation repositories under Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general
Jan 02, 2021National Risk Assessment of ML/TF for the Year 2020
Background The 2020 national risk assessment of money laundering and terrorist financing (the “ NRA ”) was led by the Executive Secretariat of the National ML/TF Prevention Committee, with the input of a wide set of national stakeholders. The exercise was conducted in the first semester of 2020, and
Jan 01, 2021AML | RAIF’S RR and RC Identification Form must be completed and filed with the AEDT
On 16 December 2020, the Administration de l’enregistrement, des domaines et de la TVA (the “ AEDT ”) sent letters to reserved alternative investment funds (“ RAIFs ”) to request them to appoint, in accordance with article 4(1) of the law on the fight against money laundering and terrorist financing
Jan 01, 2021CSSF 2020 Survey related to the Fight against Money Laundering and Terrorist Financing
On 24 December 2020, the CSSF announced that it will roll-out its annual AML online survey for the year 2020 (the “ Survey”) on 15 February 2021. Similar to last year, the Survey is addressed to management boards or/and the board of directors of (i) credit institutions, (ii) investment firms, (iii)
Nov 23, 2020Newsflash | Systemic Risk Committee Issues Recommendation to the CSSF with Respect to LTV Ratios of Property Loans
Background The sustained and persistent rise in real estate prices and related surge in volume of mortgages has prompted Luxembourg’s systemic risk committee (the “ LSRC”), the Grand Duchy’s macroprudential authority, to issue on 9 November a recommendation to the CSSF to introduce stricter loan-to
Nov 20, 2020UK Temporary Permissions Regime (TPR) | Communication by the UK FCA regarding TPR
On 19 November 2020, the CSSF published on its website a press release ( Press Release 20/23) (“ Press Release”) updating Luxembourg-based entities on the recent developments regarding the UK’s Temporary Permissions Regime (“TPR”) as communicated to the CSSF by the UK’s Financial Conduct Authority (
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