Newsflashes

On 26 May and 13 June 2023 ESMA published its updated Q&A on the application of the AIFMD (the “ Q&A”). The answers to the questions in the June update were provided by the European Commission. Pre-marketing of AIFs In it May update ESMA clarified that non-EU AIFMs are not allowed to carry out pre

On 16 May 2023, the Luxembourg Parliament ( Chambre des Députés) has passed the law amending the law of 30 July 2022 setting out various tax measures designed to encourage the marketing and acquisition of building land and residential property (the “ Law”). The purpose of the Law is to increase

On 14 June 2023, the Lower Administrative Court ( Tribunal administratif) took a decision (docket n°45759) on the Luxembourg tax treatment of the repurchase of shares by a Luxembourg company. The decision builds on previous case law on the matter and clarifies that in case of a proportional

Introducing the retail investment package to enhance trust and participation in EU Capital Markets On 24 May 2023, the European Commission adopted a retail investment package (the “ RIP”), announced in the 2020 capital markets union action plan, which seeks to create a safer environment for

On 30 May 2023, the Luxembourg Parliament ( Chambre des députés) filed a draft law (the " Draft Law") amending i) the Labour Code, ii) the law of 29 August 2008 on the free movement of persons and immigration (the " Immigration Law") and iii) the law of 18 December 2015 on the reception of

European supervisory authorities (“ESAs”) release draft regulatory technical standards (“RTS”) for sustainability disclosures: proposed changes to principal adverse impacts (“PAIs”) and financial product disclosures The ESAs recently published a Joint Consultation Paper on the review of the