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01 Oct 2014

BSP Newsletter | September 2014

This newsletter is intended as a general discussion of the following topics: Capital Markets, Corporate, Data Protection, Investment Funds and Tax.
If you would like to know more about the topics covered in this newsletter or our services please contact us.
 

CAPITAL MARKETS

  • European Commission proposal for revision of the Shareholder Rights Directive
  • Prospectus Directive – ECJ judgement
  • Uncertainties on definition of FX financial instruments

CORPORATE   

  • Floating financial year

DATA PROTECTION

  • Law dated July 18th 2014 approving Convention on Cybercrime

INVESTMENT FUNDS 

  • CSSF Circular 14/589 - Out-of-Court settlement
  • CSSF Circular 14/587 - New rules applicable to depositary banks
  • CSSF Circular 14/591 - Material changes to UCIs
  • ESMA Opinion - Common definition of European MMFs
  • UCITS V adopted
  • Guidelines on ETFs and other UCITS issues
  • Application questionnaire for UCITS

INVESTMENT FUNDS - AIFMD

  • Updated FAQ
  • Updated ESMA Q&A
  • ESMA guidelines on reporting obligations

INVESTMENT FUNDS - EMIR

  • Clearing obligations
  • Legal Entity Identifiers

TAX

  • Real estate rich companies clause - Tax Treaty with France
  • Update of the OECD Model Tax Convention
  • The Luxembourg Freeport and its preferential VAT suspension regime
  • Clarification regarding the IP tax regime
  • Draft law N°6706 on the annual net wealth tax assessment