Latest Newsflashes
Oct 16, 2026Newsflash | EU case law | PSD GAAR Assessment: economic substance yields to the overall picture
On 15 October 2026, the Court of Justice of the European Union (“ CJEU”) delivered its judgment in the Neo Group case, confirming that the genuine economic activity of a parent company does not, in itself, prevent the denial of the withholding tax exemption under the Parent-Subsidiary Directive (“
Oct 15, 2026Distance-sold financial services | Luxembourg tables its transposition of the new EU Directive
Directive (EU) 2023/2673 - transposition into Luxembourg law On 3 June 2026, the Luxembourg government tabled Draft Law n° 8758 (the " Draft Law") before the Luxembourg Parliament ( Chambre des Députés ), transposing Directive (EU) 2023/2673 of 22 November 2023 (the " Directive") on financial
Oct 15, 2026Listing Act | Prospectus format, ESMA's September package and MAR measures now in force
The Listing Act continues to take shape. Since our January and April newsletters, several measures we flagged as drafts or proposals have now been finalised, and related Market Abuse Regulation measures have entered into force. ESMA has also published a substantial new package of guidance on the
Oct 10, 2026ATAD 1 | Advocate General Kokott backs Luxembourg's securitisation carve-out against EU Commission challenge
On 18 June 2026, Advocate General Juliane Kokott of the Court of Justice of the European Union (" CJEU") handed down a landmark Opinion in Case C-138/24 , EU Commission v. Grand Duchy of Luxembourg , recommending that the CJEU dismiss the EU Commission's infringement action over Luxembourg's
Oct 10, 2026DAC | European Commission proposes recast of the Directive on administrative cooperation in the field of taxation
On 24 June 2026, the European Commission published proposal COM(2026)308 final to recast Directive 2011/16/EU on administrative cooperation in taxation (the " DAC"). The proposal would consolidate DAC1 to DAC9 into a single legal act and introduce targeted substantive amendments across several
Oct 09, 2026Luxembourg moves to ring-fence funded sub-participants from lender insolvency
A new Draft Law is in the works, which would shield funded sub-participants from lender insolvency by ring-fencing the assets a lender owes them. On 30 July 2026, Draft Law No. 8813 (the “ Draft Law ”) was submitted to the Luxembourg Parliament ( Chambre des Députés ). It proposes a dedicated