Newsflashes

HISTORIQUE La loi du 1 er août 2001 (la Loi de 2001) concernant la circulation des titres et autres instruments financiers était, déjà à son époque, un pas important vers la modernisation de la législation du secteur financier. La modernisation était lancée, une étape significative supplémentaire

The European Securities and Markets Authority (“ ESMA”) recently updated its Q&A on Directive 2011/61/EU of the European Parliament and of the Council of June 8 th 2011 on Alternative Investment Fund Managers (“ AIFM Directive”) regarding the supervisory responsibilities of competent authorities in

On September 4 th 2018, the European Commission (“ Commission”) released the public version of its state aid decision ordering the recovery of the alleged illegal state aid granted to Engie by Luxembourg. At issue are two tax rulings issued by the Luxembourg tax authorities in 2008 and 2010

On August 23 rd 2018, the CSSF published Circular CSSF 18/697 (“ Circular”), which (i) specifies organizational requirements for depositaries of funds which are not subject to Part I of the Law of December 17 th 2010 on undertaking for collective investment (the “ 2010 Law”), (ii) modifies Circular

The CSSF published its first Frequently Asked Questions (“ FAQ”) concerning the Money Market Fund Regulation (“ MMFR”) on August 28 th 2018. This FAQ explains some of the key aspects of the regulation which are relevant to money market funds (“ MMFs”) and their managers. The document answers many of

The CSSF’s frequently asked questions (“ FAQ ”) on AIFMs was updated on August 14 th 2018 with an additional question 23.b) in the section Impact of the PRIIPs Regulation . The question raised was whether Luxembourg AIFs the units of which are being advised on, offered or sold to retail investors