Newsletters & Newsflashes

As anticipated in our July 2019 Newsletter , the new Luxembourg law on prospectuses (the “ New Prospectus Law”) implementing 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 “

BACKGROUND According to the Press Release of the European Commission on Pan-European Personal Pension Products only 27% of Europeans between 25 and 59 years old have currently enrolled themselves in a pension product. This is the context in which the Regulation (EU) 2019/1238 of 20 June 2019 on a

In a recent decision (No. 42043C dated 17 July 2019), the Higher Administrative Court ( Cour Administrative) ruled that the tax administration is entitled to requalify interest payments into a hidden distribution, if a taxpayer is not able to provide sufficient supporting documentation proving that

ESMA Q&A Since our last newsletter, ESMA updated its Q&A on the Market in Financial Instruments Directive 2014/65/EU of 15 May 2014 (“ MiFID II”) and on the Markets in Financial Instruments Regulation 600/2014 of 15 May 2014 (“ MiFIR”), on the following topics: • Q&A on MiFID II and MiFIR

Background In April 2019 two Luxembourg laws (the “ Brexit Laws”) were published in anticipation of the United Kingdom's exit from the European Union without any withdrawal agreement on 31 st October 2019 (the " Hard Brexit"). In such an event, the United Kingdom will be considered as a third

On 1 July 2019, the CSSF issued press release 19/28 (the " Press Release") relating to an assessment of the impact of Regulation (EU) 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products

On 10 July 2019 the Luxembourg Parliament (Chambre des Députés) adopted the final text of the draft law No. 7402 (the New Shareholders Rights Law for the purposes of implementing Directive (EU) 2017/828 amending Directive 2007/36/EC as regards the encouragement of long term shareholder participation

This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, Employment, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML CSSF Circular 19/722 -

Trade secrets have for a long time been insufficiently protected and difficult to defend compared to intellectual property rights. It is however an equally important instrument for the protection of technological or non-technological innovations and knowledge in EU companies. It is within this

The Directive on the protection of persons reporting on breaches of Union law (“ Directive”) was approved by the European Union (“ EU”) Parliament on 16 April 2019. The Directive has not yet been published to the Official Journal of the EU yet. In recent years, whistle-blowers have played a key role

The case concerned Mydibel S.A., a Belgian VAT taxable person, that owned several buildings which it used exclusively for its economic activity and for which it deducted the input VAT paid for its construction in full. In 2009, Mydibel entered into sale and lease-back (cession-bail) agreements with

Draft Law No 7349 was adopted by the Luxembourg Parliament on 11 July 2019 (the " Law") and implements into domestic law certain provisions of the following regulations: Regulation (EU) N°345/2013 of the European Parliament and of the Council of 17 April 2013 on European venture capital funds (“