Newsflashes

On 23 February 2022, the European Commission published a proposal for a Directive on Corporate Sustainability Due Diligence (the “ Directive”). The Directive will set out a horizontal framework to foster the contribution of businesses operating in the single market to the respect of human rights and

Benchmark On 28 January 2022 and 1 April 2022, the European Securities and Market Authority (“ ESMA ”) published its updated FAQ on Benchmark Regulation (BMR). ESMA clarified that temporary disruptions to the provision of a benchmark do not require supervised entities to initiate their written plans

BACKGROUND As a global financial centre, Luxembourg has traditionally been amongst the frontrunners in bringing financial innovation under its regulatory umbrella. This again seems to be the case with regard to blockchain technology and digital assets too. Already in 2019, the Grand Duchy had

Background On 17 December 2021, the CSSF issued Circular 21/790 (the “ Circular”) applicable to Luxembourg regulated funds (UCITS, Part II Funds, SIFs and SICARs) imposing an obligation on regulated funds, for financial periods ending on or after 30 June 2022, to complete a questionnaire in order to

On 5 April 2022, the CSSF issued a communiqué inviting investment fund managers (“ IFMs”) to declare via a dedicated eDesk application the performance fee models applicable to Luxembourg UCITS or AIFs they manage. Background In the context of the ESMA guidelines on performance fees applicable to

On 25 February 2022, the Luxembourg Parliament ( Chambre des Députés) published an amendment (the “ Amendment Law”) to the law of 17 April 2018 that had implemented Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance