Newsflashes

Overview On 22 December 2021, the European Commission released a legislative proposal for a Council Directive (“ Draft Directive” or “ Draft ATAD 3”) laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU on administrative cooperation in the

On 7 September 2021, the European Commission published delegated regulation to the PRIIPs regulation amending regulatory technical standards developed by the European supervisory authorities in the Commission Delegated Regulation (EU) 2017/653 . The latter defining the presentation and content of

On 25 November 2021, the European Commission (“ EC”) published a legislative proposal to amend the Alternative Investment Funds Manager Directive (the “ AIFMD”) and the Undertakings for the Collective Investment in Transferable Securities Directive (the “ UCITS Directive”) (the “ Proposal”). The EC

Holding of ancillary liquid assets by UCITS On 3 November 2021, the CSSF published an updated version of its Frequently Asked Questions concerning the Luxembourg law of 17 December 2010 relating to undertakings for collective investment in transferable securities (the “ UCITS FAQ”) providing

In a communication of the 29 November 2021 (the “ Communication”), the CSSF, whilst acknowledging that virtual assets have generated a strong interest as a potential new asset class, addressed the challenges raised by virtual assets since this category of assets comes with a variety of rights that

On 19 November 2021, ESMA updated its Questions and Answers (" Q&A") in relation to Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the “ Securitisation