Newsflashes

On 22 September 2021, the Commission de Surveillance du Secteur Financier (“ CSSF”) published (the “ Communication”) on its website inviting investment fund managers (“ IFMs”) to proceed with a declaration regarding performance fees (the “ Declaration”). The Communication has been issued in the

On 14 July 2021, the European Commission (EC) responded to the letter of 7 January 2021 addressed to it by the European Supervisory Authorities (ESAs) in relation to the application of Regulation (EU) 2019/2088 on sustainability - related disclosures in the financial services sector ( “ SFDR”). The

On 28 September 2021, the Luxembourg Minister of Labour filed a draft law n°7890 (hereafter the “ Draft Law”) with the Luxembourg Parliament ( Chambre des Députés) aimed at introducing into the Luxembourg Labour Code the obligation for each company to define precisely the rules governing the right

On 28 September 2021, the Commission Delegated Regulation (EU) 2021/1722 of 18 June 2021 (the “ Regulation”), supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council (the “ Payment Services Directive”, “ PSD2”) with regard to regulatory technical standards specifying the

Background On 24 September 2021, the CSSF issued a new Circular 21/782 regarding the adoption of the revised guidelines by the European Banking Authority (“EBA”), on money laundering and terrorist financing risk factors (the “ Circular”). This Circular replaces CSSF Circular 17/661. Purpose The

On 15 September 2021, the Lower Administrative Court issued four decisions on the lack of competence of the Luxembourg Direct Tax Authorities (hereinafter “ ACD”) to supervise family asset management companies (hereinafter “ SPFs”). According to the law of 11 May 2007 on the creation of SPFs