Latest Newsletters & Newsflashes
Oct 05, 2022Crowdfunding regulation | New ESMA Q&As
On 23 September 2022, ESMA updated its Questions and Answers (" Q&As") in relation to Regulation (EU) 2020/1503 of 7 October 2020 on European crowdfunding service providers for business (“the Crowdfunding Regulation”) . In this latest update, ESMA clarifies in the "general provisions" section of the
Oct 05, 2022Market abuse | New implementing regulation and updated ESMA Q&A
New implementing regulation on insider lists On 14 July 2022 and having regard to Regulation (EU) 596/2014 on market abuse (" MAR"), the Commission Implementing Regulation (EU) 2022/1210 of 13 July 2022 laying down implementing of technical standards for the application of MAR with regard to the
Oct 05, 2022Luxembourg financial collateral law | Amendment law adopted
On 20 July 2022, the Luxembourg law amending, amongst others, the Luxembourg law of 5 August 2005 on financial collateral arrangements, as amended (the " Financial Collateral Law") was published in the Luxembourg official gazette (the " New Law"). The New Law became effective on 24 July 2022. Key
Jul 13, 2022Securitisation Regulation | EBA publishes final draft risk retention RTS
On 12 April 2022, the EBA published its final draft Regulatory Technical Standards (the " RTS") specifying the requirements for originators, sponsors and original lenders related to risk retention as laid down in Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for
Jul 13, 2022Crowdfunding Regulation | Latest legal and regulatory developments
Introduction Since the entry into force of Regulation (EU) 2020/1503 of 7 October 2020 on European crowdfunding service providers for business (the “ Crowdfunding Regulation”) on 10 November 2021, and its transposition into Luxembourg law by the Law of 25 February 2022, the legislative and
Jul 05, 2022MICA | Regulation of distributed ledger technology
The first cornerstone: the adoption of the Markets in Crypto-assets (“MiCA”) regulation On 30 June 2022, the European Parliament and Council reached a provisional agreement on the MiCA regulation (the " MiCA Regulation"), providing a long-awaited legal framework for crypto-assets. The MiCA
Jul 01, 2022MiFID II and MiFIR | ESMA: updated Q&As and CSSF adoption of final report on appropriateness and execution-only requirements
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 January 2021 newsletter, the following
Jun 30, 2022MAR | CSSF circular transposing new ESMA guidelines on delay of disclosure of inside information
On 13 April 2022, ESMA published updated guidelines on delayed disclosure of inside information (the " Guidelines") pursuant to Regulation (EU) 596/2014 of 16 April 2014 on market abuse (" MAR"). The purpose of the Guidelines is to provide a non-exhaustive list of legitimate interests of issuers
Apr 13, 2022DLT and Blockchain Technology │CSSF White Paper
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
Apr 02, 2022Inactive bank accounts, safe deposit boxes and unclaimed life insurance policies | New Law
Context The Luxembourg Parliament ( Chambre des Députés) has passed a law on inactive (also sometimes referred to as dormant) bank accounts and safe deposit boxes and on unclaimed life insurance policies (the “ Law”), thereby creating a specific legal framework on matters that until now were
Mar 07, 2022Transparency law and market abuse regulation │CSSF launches new eRIIS filing platform
The CSSF’s new electronic filing platform ”electronic Reporting of Information concerning Issuers of Securities” ( eRIIS) is live since 4 March 2022 and can be accessed at this link. eRIIS provides issuers and other persons subject to the Luxembourg law of 11 January 2008 on transparency
Mar 03, 2022Securitisation Regulation | ESMA launches new STS register
On 3 February 2022, ESMA launched its Simple, Transparent and Standardised Register (the " STS Register") which, going forward, shall list all traditional securitisations notified to ESMA by the originators and sponsors as meeting the Simple, Transparent and Standardised (STS) requirements set out