Newsflashes

On 17 December 2021 the European Securities and Markets Authority (“ ESMA”) published updated version of both its Q&A Application of the UCITS Directive (the “ UCITS Q&A”) and its Q&A Application of the AIFMD (the “ AIFMD Q&A”). The UCITS Q&A was also amended in November 2021. The updates cover a

Background In the context of the growing popularity of virtual assets amongst investors throughout Europe, the CSSF published on 4 January 2022 the anticipated FAQ on virtual assets addressed to credit institutions (the " FAQ"). These FAQ followed the recent publication by the CSSF of FAQ on virtual

On 19 November 2021, ESMA updated its Questions and Answers (" Q&A") in relation to Regulation (EU) 2020/1503 of 7 October 2020 on the European crowdfunding service providers for business (the “ Crowdfunding Regulation”). In addition, on 10 November 2021, ESMA published its final report (the " Final

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). The Circular covers a number of topics applicable to the regulated funds themselves and to their auditors: It introduces an obligation

On 9 December 2021, the Luxembourg law of 8 December 2021 on the issuance of covered bonds (i) transposing into Luxembourg law Directive (EU) 2019/2162 of 27 November 2019 on the issue of covered bonds and covered bond public supervision, and (ii) implementing Regulation (EU) 2019/2160 of 27

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 July 2021 newsletter, the following