Newsflashes

Background On 4 June 2020, ESMA issued a supervisory briefing (the “ Briefing”) on the supervision by National Competent Authorities (“ NCAs”) of costs applicable to Undertakings for the Collective Investment in Transferable Securities (“ UCITS”) and Alternative Investment Funds (“ AIFs”). The

On 28 May 2020, ESMA published an updated version of the Questions & Answers (hereinafter the “ Q&A”) on the implementation of Regulation (EU) 648/2012 of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (hereinafter referred to as “ EMIR”). The updated Q&A added the new

Sustainable finance being an evolving subject and in order to continue the European Commission’s action plan on financing sustainable growth (adopted in March 2018), the European Commission published on 8 June 2020 three different proposals in this domain. The first was draft Commission Delegated

Background On 11 March 2020, HM Treasury (the " HMT"), the office responsible for financial services legislation in the UK, published a consultation paper on a new Overseas Funds Regime (the “ OFR”). The consultation ended on 11 May 2020. While the UK is part of the EU, retail investors in the UK

CONTEXT With the view to contain the outbreak of COVID‐19, Member States have put in place a series of unprecedented measures, in particular concerning confinement and social distancing of persons, potentially preventing companies from complying with their legal obligations. Luxembourg has put in

Background In connection with Directive 2019/1937 of 23 October 2019 on the protection of persons who report breaches of Union law, the CSSF published on 5 May 2020 its first whistleblowing reporting of breaches of financial sector regulations to the CSSF (the “ Report”). The Report gives practical