Newsflashes

On 16 May 2023, the Luxembourg Parliament ( Chambre des Députés) adopted a law (the “ DAC 7 Law”) implementing Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation (“ DAC 7”), effective as of 1 June 2023 (save for the

On 5 May 2023, a draft law No. 8207 on the transparency of online payments (the “ Draft Law”) has been submitted to the Luxembourg Parliament ( Chambre des Députés). The purpose of the Law is to introduce a new electronic system to fight against VAT fraud. The Law transposes Directive (EU) 2020/284

On 22 March 2023, in its judgment T-72/20 Satabank v. European Central Bank, the General Court of the EU (the “ General Court”) annulled a decision of the European Central Bank (the “ ECB”) rejecting access to a file requested by Satabank plc (the “ Bank”). At the time the complaint was lodged

On 26 May 2023, ESMA updated its Questions and Answers (" Q&As") in relation to Regulation (EU) 2020/1503 of 7 October 2020 on European crowdfunding service providers for business (the “ Crowdfunding Regulation”). Three new questions and answers have been added to the Q&As. In this latest update

On 6 April 2023, the CSSF updated their frequently ask questions (“ FAQ”) on virtual assets addressed to undertakings for collective investment (“ UCIs”), (the “ FAQ”). This update involved the modification of the existing Question 2 and the addition of a new Question 3A. The update of Question 2

Key SFDR clarifications on fund names (Question 7) and efficient portfolio management (Question 8) The sustainable finance disclosure regulation (“ SFDR”) has introduced a new era of transparency and sustainability in the financial industry. The CSSF has recently provided important clarifications