Newsflashes

In July 2019, ESMA updated its Questions and Answers on the Prospectus Regulation (the “ PR Q&A”) relating to Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “ Prospectus

The long expected Directive (EU) 2019/1160 regarding cross-border distribution of collective investment funds amending the UCITS Directive and the AIFM Directive (the Directive) as well as the Regulation (EU) 201/1156 on facilitating cross-border distribution of collective investment funds and

As anticipated in our July 2019 Newsletter , the new Luxembourg law on prospectuses (the “ New Prospectus Law”) implementing Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “

BACKGROUND According to the Press Release of the European Commission on Pan-European Personal Pension Products only 27% of Europeans between 25 and 59 years old have currently enrolled themselves in a pension product. This is the context in which the Regulation (EU) 2019/1238 of 20 June 2019 on a

In a recent decision (No. 42043C dated 17 July 2019), the Higher Administrative Court ( Cour Administrative) ruled that the tax administration is entitled to requalify interest payments into a hidden distribution, if a taxpayer is not able to provide sufficient supporting documentation proving that

ESMA Q&A Since our last newsletter, ESMA updated its Q&A on the Market in Financial Instruments Directive 2014/65/EU of 15 May 2014 (“ MiFID II”) and on the Markets in Financial Instruments Regulation 600/2014 of 15 May 2014 (“ MiFIR”), on the following topics: • Q&A on MiFID II and MiFIR