Newsflashes

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

On 29 April 2020, the CSSF published an updated version of its FAQ (the “ Updated FAQ”) on the Luxembourg law and Grand-Ducal Regulation of 11 January 2008 on transparency requirements for issuers, as amended (the “ Transparency Law” and the “ Grand-Ducal Transparency Regulation”, respectively)

On 14 May 2020, the European Commission decided to send two letters of formal notice to Luxembourg. The first one relates to the incorrect transposition of the interest limitation rule of the Anti-Tax Avoidance Council Directive (EU) 2016/1164 (“ ATAD”). The second letter addresses discriminatory