Newsflashes

WHAT? Article 30 of the Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the 4 th AML Directive) creates transparency obligations for corporate and

Pursuant to Article 13 of Regulation (EU) 2015/2365 of November 25 th 2015 on transparency of securities financing transactions (“ SFT”) and of reuse (the “ SFTR”), UCITS management companies, and UCITS investment companies shall inform investors on the use they make of SFTs and total return swaps

WHAT? An ICO is an unregulated and innovative way of public fund raising, by selling coins or tokens. By launching an ICO, a company (the Issuer) (startup and/or fintech company) or an individual, issue coins or tokens for sale in exchange of virtual currencies, such as Bitcoin. Sometimes, ICOs may

On October 5 th 2017 ESMA added three new questions to its AIFMD Q&A. Regarding the impact of SFTR on alternative investment funds, ESMA adopts the same approach as for UCITS ( see above). One difference being that for AIFMs, the information have to be disclosed to investors only in each annual

On October 24 th 2017, the CSSF published its first questions and answers on the Markets in Financial Instruments Directive (recast) – Directive 2014/65/EU (“ MiFID II”) and Markets in Financial Instruments Regulation – Regulation 600/2014 (“ MiFIR”) (the “ Q&A”), addressing one issue related to

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