Newsletters & Newsflashes

The strong protection of secured parties under pledge agreements governed by the Luxembourg law of August 5 th 2005 on financial collateral arrangements, as amended, (the “ Collateral Law”) has been further reinforced by the Luxembourg court of appeal ( Cour d’Appel) (the “ Court”), which confirmed

After a 1-year extension early last year, the specially reduced tax rate on capital gains realised by individual taxpayers on certain real estate assets has not been extended for the tax year 2019. As a reminder, this specific regime, initially introduced for the tax years 2016 and 2017 and aimed at

On January 15 th 2019, the Commission de Surveillance du Secteur Financier (“ CSSF”) agreed to a Memorandum of Understating (“ MoU”) with the Securities and Futures Commission (“ SFC”) on the mutual recognition of funds. This MoU will allow Luxembourg-domiciled UCITS and Hong Kong public funds to be

HISTORICAL BACKGROUND On December 6 th 2017, the Luxembourg Parliament published two bills of laws (PL 7216 and PL 7217) aimed at implementing new transparency measures provided by Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or

On 11 January 2019, the Council of the Government approved a draft law on the amendment of articles L. 232-2 and L. 233-4 of the Luxembourgish Labour Code and article 28-1 of the amended Law on 16 April 1979 determining the general status of public servants (the “Draft law”). The main purpose of the

The State Administration of Foreign Exchange (“ SAFE”) released an updated version of the Foreign Exchange Administrative Provisions on the Domestic Securities Investment by Qualified Foreign Institutional Investors (“ QFII”) (the Regulation) on June 10 th 2018. Two days later, SAFE, together with

On January 11 th 2019, the Council of the Government ( Le Conseil de gouvernement) discussed a draft law (the “ Draft Law”) which has as its purpose the transposition into Luxembourg law of Directive (EU) 2017/828 of 17 May 2017 as regards the encouragement of long-term shareholder engagement (the “

In the last quarter of 2018, ESMA has twice updated its Questions and Answers (“ Q&A”) on Regulation (EU) No. 596/2014 of 16 April 2014 on market abuse (the “ Market Abuse Regulation”), to provide some more clarification regarding the delay of disclosure of inside information by credit/financial

The CSSF has published Press Release 19/02 (the “ Press Release”) for the attention of issuers of securities subject to the Law of January 11 th 2018 on transparency requirements for issuers of securities, as amended. The CSSF wishes to highlight to those issuers and auditors preparing and auditing

In a recent decision (No.40352 dated December 20 th 2018), the Lower Administrative Court (“ Tribunal administratif”) confirmed, as in previous decisions, that by application of the principle of legitimate expectations ( principe de confiance légitime), a confirmation given by the Luxembourg tax

Both the European Securities and Markets Authority ( ESMA) and the European Banking Authority ( EBA) have published yesterday January 9 th 2019 individual report on crypto-assets. ESMA, together with EU Member State national competent authorities, has analysed various business models of crypto

On November 5 th 2018, the Economic and Monetary Affairs Committee (the “ Committee”) voted on the European regulation on European Crowdfunding Service Providers for Business proposed by the European Commission in March 2018. The aim of the proposed regulation is to end the current status quo in