Newsflashes

Since we last provided an update on ESMA's Questions and Answers (" Q&As") on Directive 2014/65/EU of 15 May 2014 on markets of financial instruments (" MiFID II") and Regulation (EU) 600/2014 of 15 May 2014 on markets of financial instruments (" MiFIR") in our January 2021 newsletter, the following

On 13 April 2022, ESMA published updated guidelines on delayed disclosure of inside information (the " Guidelines") pursuant to Regulation (EU) 596/2014 of 16 April 2014 on market abuse (" MAR"). The purpose of the Guidelines is to provide a non-exhaustive list of legitimate interests of issuers

On 16 May 2022, the Commission de surveillance du secteur financier (the “ CSSF”) issued Circular 22/811 on the authorisation and organisation of entities acting as UCI administrators (the " Circular"). In the Circular, the CSSF repeals Chapter D of IML Circular 91/75 setting out the rules

On 31 May, 2022, the Luxembourg tax authorities (“ LTA”) issued a new circular (the “ Circular”) on defensive measures against non-cooperative jurisdictions. This Circular replaces a previous circular (dated 2018) on the same subject and follows the introduction, in 2021, of Article 168 (5) of the

On the 14th of June, the Luxembourg parliament adopted the draft bill no 7452 aiming to finalise the transposition of directive no 2014/42/EU of the European Parliament and of the Council on the freezing and confiscation of instrumentalities and proceeds of crime in the European Union (the “Law”)

On 11 May 2022, the European Commission (hereafter the “ Commission”) published a proposal to create a level playing field for debt and equity from a tax perspective. The Commission proposes to introduce a debt-equity bias reduction allowance (hereafter “ DEBRA”) and a further limitation of the tax