Newsletters & Newsflashes

In December 2022, ESMA published new guidelines and Q&As regarding Regulation (EU) 2022/858 of 30 May 2022 on a pilot regime (the " DLT Pilot Regime") for market infrastructures based on distributed ledger technology (DLT) (the " DLT Pilot Regime Regulation "). On 15 December 2022, ESMA published

Context On 8 April 2022, the Ministre des Classes Moyennes presented the draft law 7989 (the " Draft Law") aimed at amending the law of 2 September 2011 regulating access to the professions of craftsman, trader and industrialist and to certain professions. Objectives Ten provisions characterise the

On 8 November 2022, the Court of Justice of the European Union (the " ECJ") ruled that the Advance Pricing Agreement (" APA") granted by Luxembourg tax authorities to Fiat Finance & Trade Ltd (" FFT") is not an illegal State aid. Facts of the case In 2014, the European Commission opened an

Updated Rules & Regulations of the Luxembourg Stock Exchange On 18 October 2022, Luxembourg Stock Exchange (“ LuxSE”) published an updated LuxSE Rules & Regulations 2022 and LuxSE Trading Manual 2022 . The purpose of this update was the introduction of a new Fast-Lane procedure for admission to

In October and November 2022, ESMA updated its Questions and Answers (“ MAR Q&A”) on Regulation (EU) No. 596/2014 (the “ Market Abuse Regulation” or " MAR"), and its Questions and Answers (“ CSDR Q&A”) on Regulation (EU) No. 909/2014 (the " CSDR"). With the latest update of the MAR Q&A, ESMA amended

On 2 December 2022, the CSSF issued a FAQ (the " CSSF FAQ") in relation to the Sustainable Finance Disclosure Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial services sector (" SFDR") and Commission Delegated Regulation (EU) 2022/1288 (" SFDR RTS"

In a judgment dated 8 December 2022 in the case C-694/20 Orde van Vlaamse Balies, the European Court of Justice (" ECJ" or the " Court") sitting in Grand Chamber handed down a decision concerning the compatibility of Directive 2011/16/EU on administrative cooperation in the field of taxation as

Background On 2 January 2023, the CSSF published a press release for the attention of issuers of securities subject to the law of 11 January 2008 on transparency requirements for issuers of securities, as amended (the " Transparency Law") and their auditors (the " Press Release"). With this Press

The Budget Law for the year 2023 (the “ 2023 Budget Law”), although falling short of the long awaited substantial tax reform, does provide for some tax amendments that may be of interest to individuals and employers as well as to corporations and investment funds. The 2023 Budget Law contains

On 7 December 2022, the Official Journal of the EU published Directive (EU) 2022/2381 of the European Parliament and of the Council of 23 November 2022 on improving the gender balance among directors of listed companies and related measures (the “ Directive”). The Directive aims at ensuring the

European Banking Authority guidelines on loan origination and monitoring (EBA/GL/2020/06) On 29 May 2020, the European Banking Authority (the " EBA") issued final guidelines on loan origination and monitoring (the " Guidelines"). The purpose of the Guidelines is to ensure that in-scope entities have

The law of 28 October 2022 creating the procedure for administrative dissolution without liquidation (the Dissolution Law) introduces in Luxembourg a simplified administrative dissolution procedure the aim of which is to allow certain illegible companies to be dissolved without recourse to the