Latest Newsletters & Newsflashes
Mar 02, 2020Updated Requirements for Luxembourg UCITS marketed in Hong Kong
Background The Securities and Futures Commission of Hong Kong (the “ SFC”) and the Commission de Surveillance du Secteur Financier (the “ CSSF”) signed on 15 January 2019 a Memorandum of Understanding concerning Mutual Recognition of Covered Funds (“ MRF”) between both countries. In relation to MRF
Feb 25, 2020BREXIT | CSSF Press Release on Brexit Notifications
On 31 January 2020, the CSSF published press release 20/03 in the context of Brexit (the “ Press Release”). It refers to the CSSF’s press releases issued in 2019 on Brexit as well as the Luxembourg Laws of 8 April 2019 published in the context of the United Kingdom leaving the European Union without
Feb 24, 2020Prospectus Regulation | ESMA Updates
On 18 February 2020, ESMA updated its Q&As in relation to Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the pubic or admitted to trading on a regulated market (the “ Prospectus Regulation”) with two new Q&As clarifying the permitted length
Feb 14, 2020Sustainable Finance Insights Series - 3 | ESMA - Strategy on Sustainable Finance
On 6 February 2020 the European Securities and Markets Authority (ESMA) published its strategy on sustainable finance (the " Sustainable Strategy"). Its aim is to explain methods in which ESMA will include sustainability at the core of its activities by embedding Environmental, Social, and
Feb 11, 2020French CSG/CRDS Contributions Deductible as Special Expenses
On 22 January 2020, the Luxembourg lower administrative court ( Tribunal administratif) handed down a judgment on the deductibility of French CSG/CRDS contributions ( Contribution Sociale Généralisée/ Contribution pour le Remboursement de la Dette Sociale) as special expenses related to employment
Feb 10, 2020CSSF ML/FT Risk Analysis on the Collective Investment Sector
Background On 27 January 2020, the CSSF published its first ML/FT risk analysis on the collective investment sector (the “ Analysis”). In 2019, in order to link the national risk assessment (“ NRA”) of money laundering and terrorist financing (“ ML/FT”) to the entity-level ML/FT risk assessments
Feb 04, 2020NEWSFLASH | Annual AML Survey - CSSF circular letter
On 31 January 2020, the CSSF published a circular-letter (the “ Letter”) on the annual online survey for the year 2019 collecting standardised key information concerning money laundering and terrorist financing (ML/FT) risks to which the professionals under supervision are exposed (the “ Survey”)
Feb 04, 2020UCITS – CSSF communication on benchmark disclosures
On 27 January 2020 the CSSF published a communication on benchmark disclosures in the key investor information document (the " KIID") of UCITS (the “ Communication”). The Communication refers to an update to ESMA Questions and Answers on the application of the UCITS Directive published on 29 March
Feb 03, 2020[Updated on 29/06/2020] Money Market Funds | Reporting and Stress Test - CSSF Circulars
On January 28, 2020, the CSSF published the following three Circulars for the attention of all money market funds (“ MMF(s)”) under the supervision of the CSSF and Luxembourg managers of MMFs as well as of those that take part in the functioning and control of these undertakings: CSSF Circular 20
Jan 31, 2020Newsflash | From complexity to simplicity – the new rules and regulations of the LuxSE enter into force today
The Luxembourg Stock Exchange’s new rules and regulations (the “ R&Rs”) enter into force today, 31 January 2020, and will certainly be warmly welcomed by issuers and their listing agents/legal advisors. The new R&Rs can be consulted here . The drive for change Driven by the need to adapt to the
Jan 23, 2020BSP Newsletter | January 2020
This newsletter is intended as a general discussion of the following topics: Banking & Financial Services, Capital Markets, Corporate and M&A, Investment Management, Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us.
Jan 16, 2020Luxembourg Parliament Adopts Budget Law 2020 and ATAD 2
Budget Law 2020 On 19 December 2019, the Luxembourg Parliament voted to approve the 2020 Budget Law (the " Budget Law"), which introduces several tax related measures, namely: i. Limitation on validity of pre-2015 Advance Tax Agreements The most important measure introduced by the Budget Law is the