Newsletters & Newsflashes

On 11 January 2019, the Council of the Government approved a draft law on the amendment of articles L. 232-2 and L. 233-4 of the Luxembourgish Labour Code and article 28-1 of the amended Law on 16 April 1979 determining the general status of public servants (the “Draft law”). The main purpose of the

The State Administration of Foreign Exchange (“ SAFE”) released an updated version of the Foreign Exchange Administrative Provisions on the Domestic Securities Investment by Qualified Foreign Institutional Investors (“ QFII”) (the Regulation) on June 10 th 2018. Two days later, SAFE, together with

On January 11 th 2019, the Council of the Government ( Le Conseil de gouvernement) discussed a draft law (the “ Draft Law”) which has as its purpose the transposition into Luxembourg law of Directive (EU) 2017/828 of 17 May 2017 as regards the encouragement of long-term shareholder engagement (the “

In the last quarter of 2018, ESMA has twice updated its Questions and Answers (“ Q&A”) on Regulation (EU) No. 596/2014 of 16 April 2014 on market abuse (the “ Market Abuse Regulation”), to provide some more clarification regarding the delay of disclosure of inside information by credit/financial

The CSSF has published Press Release 19/02 (the “ Press Release”) for the attention of issuers of securities subject to the Law of January 11 th 2018 on transparency requirements for issuers of securities, as amended. The CSSF wishes to highlight to those issuers and auditors preparing and auditing

In a recent decision (No.40352 dated December 20 th 2018), the Lower Administrative Court (“ Tribunal administratif”) confirmed, as in previous decisions, that by application of the principle of legitimate expectations ( principe de confiance légitime), a confirmation given by the Luxembourg tax

Both the European Securities and Markets Authority ( ESMA) and the European Banking Authority ( EBA) have published yesterday January 9 th 2019 individual report on crypto-assets. ESMA, together with EU Member State national competent authorities, has analysed various business models of crypto

On November 5 th 2018, the Economic and Monetary Affairs Committee (the “ Committee”) voted on the European regulation on European Crowdfunding Service Providers for Business proposed by the European Commission in March 2018. The aim of the proposed regulation is to end the current status quo in

In a ruling issued on November 8 th 2018 (case C-502/17), the Court of Justice of the European Union (the “ ECJ”) had to rule on the question whether a real estate property developer who did not register for VAT purposes, despite being under the obligation to do so, and who has failed to keep

The Luxembourg Stock Exchange now offers issuers the possibility to admit their securities to trading on a professional segment (each a “ Professional Segment”) of each of its two markets, the BdL market (the EU-regulated market) and the Euro MTF market (Exchange-regulated market). Trading on these

Article 30 of the Directive (EU) 2015/849 of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “ AML 4 th Directive”), which requires corporate and other legal entities incorporated within an EU Member State to obtain

The Draft Law No. 7278 introducing the VAT group regime in Luxembourg (please refer to our newsletter dated June 2018 for more details) was adopted without any substantial changes on August 6 th 2018 with retroactive effect as of July 31 st 2018. The concept of normal value ( valeur normale)