Newsflashes

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

Background In April 2019 two Luxembourg laws (the “ Brexit Laws”) were published in anticipation of the United Kingdom's exit from the European Union without any withdrawal agreement on 31 st October 2019 (the " Hard Brexit"). In such an event, the United Kingdom will be considered as a third

On 1 July 2019, the CSSF issued press release 19/28 (the " Press Release") relating to an assessment of the impact of Regulation (EU) 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products