Newsletters & Newsflashes

The Luxembourg law of 1 August 2019 (the “ New Law”) amending the law of 24 May 2011 (the “ 2011 Law”) on the exercise of certain rights of shareholders in general meetings of listed companies was published on 20 August 2019 and entered into force on 24 August 2019. The New Law adds new provisions

BACKGROUND AND DEFINITION On 30 July 2019, the CSSF published a new FAQ Document on swing pricing mechanisms which is applicable to all regulated funds (UCITS, UCIs part II and SIFs) (" UCI") making use of it in Luxembourg. Swing pricing is a mechanism designed to protect long-term shareholders from

On 8 August 2019, the Luxembourg government filed a draft law implementing the Council Directive (EU) 2017/952 of 29 May 2017 amending Directive (EU) 2016/1164 as regards hybrid mismatches with third countries (hereafter the “ ATAD 2 Directive”) into Luxembourg domestic law. The ATAD 2 Directive

On 8 August, the Luxembourg Government submitted draft law No. 7465 (the “ Draft Law”) to the Luxembourg Parliament. The Draft Law transposes the EU Directive on the mandatory disclosure and Exchange of cross-border tax arrangements, commonly referred to as DAC6. The Draft Law now awaits the

On 8 August 2019, the Chamber of Deputies of the Grand-Duchy of Luxembourg issued a draft law 7467 (the “ Draft Law”) for the purposes of transposing some provisions of the Directive 2018/843 of 30 May 2018 (the “ 5th AML Directive”) amending Directive (EU) 2015/849 of 20 May 2015 (the “ 4th AML

In a judgment handed down on 10 July 2019 (C-273-19, SIA Kuršu zeme), the European Court of Justice (“ ECJ”) ruled that, in case of a chain of successive supplies of goods, the fact that the final purchaser acquired possession of the goods in the warehouse of a person forming part of the chain that

On 19 July 2019, the ESMA issued its final report on the guidelines on the reporting procedure to competent authorities under Article 37 of the Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June 2017 on money market funds (“ MMF Regulation”). These guidelines apply as

On 21 June 2019, the International Labour Organization (“ ILO”) adopted Convention No.190 concerning the elimination of violence and harassment in the world of work (hereafter the “ Convention”) and the associated recommendation No. 206 (hereafter the “ Recommendation”). CONTENT The Convention

By judgement dated 31 July 2019 (No. 42326C) , the Luxembourg Higher Administrative Court ( Cour Administrative) reiterated its interpretation of Article 164 of the Luxembourg income tax law regarding hidden dividend distributions. In the matter at hand, the taxpayer, a Luxembourg resident company

On 18 July 2019, the Law of 16 July 2019 (the “ New Law”) implementing, among others, Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the “ Securitisation

In July 2019, ESMA updated its Questions and Answers on the Prospectus Regulation (the “ PR Q&A”) relating to Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “ Prospectus

The long expected Directive (EU) 2019/1160 regarding cross-border distribution of collective investment funds amending the UCITS Directive and the AIFM Directive (the Directive) as well as the Regulation (EU) 201/1156 on facilitating cross-border distribution of collective investment funds and