Latest Newsflashes
Jun 17, 2019Proposal to Amend the PRIIPS Regulation
Background The EU Parliament and Council issued a proposal to amend the Cross Border Distribution Regulation ( see article) in order to amend the existing Regulation (EU) 2014/1286 of the European Parliament and of the Council relating to the key information documents for packaged retail and
Jun 17, 2019Shareholders Rights Directive II - Impact on AIFMs and MANCOs
The deadline for transposition of Directive (EU) 2017/828 amending Directive 2007/36/EC as regards the encouragement of long term shareholder participation (the “ Shareholders Rights Directive II ”) expired on June 10, 2019. The Shareholder Rights Directive II aims to enhance shareholder
Jun 14, 2019Foundation’s board member remuneration is not subject to VAT
On 13 June 2019, the ECJ published its judgment in the IO vs Inspecteur van de rijksbelastiengsdienst case (C-420/18) and clarified that the member of a foundation’s supervisory board does not qualify as a VAT taxable person as he does not independently exercise an economic activity. The foundation
Jun 07, 2019Judgment of the Higher Administrative Court on the Applicability of Article 50bis LITL
On 4 June 2019, the Luxembourg Higher Administrative Court ( Cour Administrative) handed down a judgment on the application of the intellectual property partial exemption regime. In the case at hand, an individual resident taxpayer holds various patents, including the one at issue in the present
Jun 06, 2019ESMA Publishes Updated AIFMD and UCITS Q&A
On 4 June 2019, the European Securities and Markets Authority (“ ESMA”) published updated questions and answers documents (“ Q&A”) on the application of the Alternative Investment Fund Managers Directive (“ AIFMD”) and the Undertakings for Collective Investment in Transferable Securities Directive (
May 31, 2019MiFID II & MiFIR | Update of ESMA & CSSF Q&A
On 29 May 2019, ESMA updated its Q&A on the Markets in Financial Instruments Directive 2014/65/EU of 15 May 2014 (“ MiFID II”) and on the markets in Financial Instruments Regulation No. 600/2014 of 15 May 2014 (“ MiFIR”), and more specifically, its Q&A on investor protection and intermediaries (the
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