Newsflashes

On 28 July 2021, the Luxembourg Tax Administration (“ LTA”) published Circular L.G.-A n o 67 setting out general guidance on the application of administrative fines in cases of tax fraud, criminal fraud and the cooperation between the tax administration and the judicial authorities (the “ Circular”)

In August 2021, the Luxembourg Stock Exchange (“ LxSE”) published guidelines for the listing of special purposes acquisition companies (“ SPACs“) on its markets, which complement the general admission rules set out in the rules and regulations of the LxSE. The LxSE encourages sponsors and other

Change of Authorisation Process for new UCI and/or new sub-funds In a communiqué of 30 July 2021, the CSSF announced the introduction of a new questionnaire named “ Fund Pre-Inception Readiness Review” to be completed together with the application file relating to the authorisation process of new

The European Commission proposes a new anti-money-laundering draft legislation package to strengthen the EU's anti-money laundering and countering terrorism financing rules On 20 July 2021, the European Commission (“Commission”) presented an ambitious package of legislative proposals to strengthen

On 6 August 2021, ESMA updated its Questions and Answers (“ Q&A”) on the Regulation (EU) No. 596/2014 (the “ Market Abuse Regulation”) to add three new questions regarding disclosure of inside information. With this latest update of the Q&A, ESMA provides further clarity on the implication of the

On 15 July 2021, ESMA issued a public statement (the “ Statement”) providing guidance on prospectus disclosure and investor protection considerations in special purpose acquisition companies (“ SPACs”). Background SPACs are shell companies with no business activity, which are created for the sole