BSP Newsletter | July 2018

This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, Dispute Resolution, Employment, Investment Funds and Tax.
If you would like to know more about the topics covered in this newsletter or our services please marketing [at] bsp.lu (subject: BSP%20Newsletter%20%7C%20July%202018) (contact us).

AML

• European Parliament Adopts 5^th AML Directive
• CSSF announces AML/CTF Surveys

BANKING & FINANCE

• MIFID II & MIFIR | Application in Luxembourg
• MIFID II & MIFIR | Update of ESMA and CSSF Q&A

CAPITAL MARKETS

• Prospectuses | Draft Law

DISPUTE RESOLUTION

• Enforceability of a Mandat de Protection Future

EMPLOYMENT

• Amendments to Labour Code | "Omnibus" Law of April 8^th 2018

INVESTMENT FUNDS

• Eltif Level 2 comes into Force
• Sustainable Finance | European Commission Legislative Proposals
• EU Proposal in Relation to Crowdfunding Service Providers for Business
• UCITS | Updated ESMA Q&A
• Securities Financing Transactions | Administrative Sanctions
• Depositary Safe-Keeping Rules | Proposals for Amendment
• Statistical Reporting | Non-Regulated Funds

TAX

• Draft Law for the Atad 1 Implementation
• BEPS Related Amendments to the Luxembourg Tax Law
• Draft Law on the VAT Group Regime
• New Circular on Input VAT Deduction
• Circular on VAT Treatment of Virtual Currencies
• Circular on Defensive Measures towards Non-Cooperative Countries and Territories
• EU Commission Proposal for Amendments to the VAT Directive
• No Remission for VAT in Luxembourg
• Distinction between Private and Business Assets under Luxembourg Tax Law
• German Constitutional Court Decision on Unitary Values