Newsflashes

On 6 February 2020 the European Securities and Markets Authority (ESMA) published its strategy on sustainable finance (the " Sustainable Strategy"). Its aim is to explain methods in which ESMA will include sustainability at the core of its activities by embedding Environmental, Social, and

On 22 January 2020, the Luxembourg lower administrative court ( Tribunal administratif) handed down a judgment on the deductibility of French CSG/CRDS contributions ( Contribution Sociale Généralisée/ Contribution pour le Remboursement de la Dette Sociale) as special expenses related to employment

Background On 27 January 2020, the CSSF published its first ML/FT risk analysis on the collective investment sector (the “ Analysis”). In 2019, in order to link the national risk assessment (“ NRA”) of money laundering and terrorist financing (“ ML/FT”) to the entity-level ML/FT risk assessments

On 31 January 2020, the CSSF published a circular-letter (the “ Letter”) on the annual online survey for the year 2019 collecting standardised key information concerning money laundering and terrorist financing (ML/FT) risks to which the professionals under supervision are exposed (the “ Survey”)

On 27 January 2020 the CSSF published a communication on benchmark disclosures in the key investor information document (the " KIID") of UCITS (the “ Communication”). The Communication refers to an update to ESMA Questions and Answers on the application of the UCITS Directive published on 29 March

On January 28, 2020, the CSSF published the following three Circulars for the attention of all money market funds (“ MMF(s)”) under the supervision of the CSSF and Luxembourg managers of MMFs as well as of those that take part in the functioning and control of these undertakings: CSSF Circular 20