Newsletters & Newsflashes

On September 11 th 2018, the Luxembourg Grand-Ducal Regulation of August 1 st 2018 amending the amended Grand-Ducal Regulation of January 23 rd 2003 implementing the amended Law of December 19 th 2002 on the trade and companies register and on the accounting records and annual accounts of

The law of August 10 th 1915 on commercial companies as amended (" LCC") had long since evolved at a glacial pace, following European directives over the years; thus the need for an ambitious reform to ensure its modernization and increase its attractiveness. This reform came into force on August 23

The OECD recently released a working paper on simplified registration and collection mechanisms aimed at tax authorities and addressing the issue of the effective enforcement of taxation rights on non-resident taxpayers. Countries generally have two options in order to enforce the tax collection

On September 19 th 2018, the European Commission (“ Commission”) announced that it had concluded that the treatment of McDonald’s profits in Luxembourg did not constitute illegal state aid within the meaning of Article 107 of the Treaty of the Functioning of the European Union. In December 2015, the

HISTORIQUE La loi du 1 er août 2001 (la Loi de 2001) concernant la circulation des titres et autres instruments financiers était, déjà à son époque, un pas important vers la modernisation de la législation du secteur financier. La modernisation était lancée, une étape significative supplémentaire

The European Securities and Markets Authority (“ ESMA”) recently updated its Q&A on Directive 2011/61/EU of the European Parliament and of the Council of June 8 th 2011 on Alternative Investment Fund Managers (“ AIFM Directive”) regarding the supervisory responsibilities of competent authorities in

On September 4 th 2018, the European Commission (“ Commission”) released the public version of its state aid decision ordering the recovery of the alleged illegal state aid granted to Engie by Luxembourg. At issue are two tax rulings issued by the Luxembourg tax authorities in 2008 and 2010

On August 23 rd 2018, the CSSF published Circular CSSF 18/697 (“ Circular”), which (i) specifies organizational requirements for depositaries of funds which are not subject to Part I of the Law of December 17 th 2010 on undertaking for collective investment (the “ 2010 Law”), (ii) modifies Circular

The CSSF published its first Frequently Asked Questions (“ FAQ”) concerning the Money Market Fund Regulation (“ MMFR”) on August 28 th 2018. This FAQ explains some of the key aspects of the regulation which are relevant to money market funds (“ MMFs”) and their managers. The document answers many of

The CSSF’s frequently asked questions (“ FAQ ”) on AIFMs was updated on August 14 th 2018 with an additional question 23.b) in the section Impact of the PRIIPs Regulation . The question raised was whether Luxembourg AIFs the units of which are being advised on, offered or sold to retail investors

The Law of 1 August, 2018 establishing the national commission for data protection and the general scheme on data protection [1] (hereinafter “ the Law”), implements the general data protection regulation (hereinafter “ the GDPR”) that entered into force on 25 May, 2018. As the GDPR is directly

On June 25 th 2018 the Chamber of Deputies of the Grand-Duchy of Luxembourg issued a draft law 7324 (the “Draft Law”) implementing a time-saving account. The time-saving account will enable the employee to better manage their working time and overtime, as well as to take time off when considered