Latest Newsletters & Newsflashes
Aug 16, 2021ESMA updated its Q&A on the market abuse regulation
On 6 August 2021, ESMA updated its Questions and Answers (“ Q&A”) on the Regulation (EU) No. 596/2014 (the “ Market Abuse Regulation”) to add three new questions regarding disclosure of inside information. With this latest update of the Q&A, ESMA provides further clarity on the implication of the
Aug 16, 2021ESMA released disclosure and investor protection guidance on SPAC’s
On 15 July 2021, ESMA issued a public statement (the “ Statement”) providing guidance on prospectus disclosure and investor protection considerations in special purpose acquisition companies (“ SPACs”). Background SPACs are shell companies with no business activity, which are created for the sole
Jul 06, 2021Draft law to implement EU crowdfunding regulation
The purpose of the draft law 7825, submitted to the Luxembourg Parliament ( Chambre des Députés) on 21 May 2021 (the “ Draft Law”), is to operationalise Regulation (EU) 2020/1503 of 7 October 2020 on the European crowdfunding service providers for business (the “ Crowdfunding Regulation”)
Jul 05, 2021Securitisation Regulation | Update of ESMA's Q&A
On 28 May 2021, ESMA published updates to its Questions and Answers (the “ Q&A”) relating to Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the “
Jun 01, 2021MIFID II and MIFIR | ESMA updated Q&AS on investor protection and intermediaries topics
On 29 March 2021 and on 28 May 2021, ESMA updated its Questions and Answers (" Q&As") concerning investor protection and intermediaries topics under Directive 2014/65/EU of 15 May 2014 on markets in financial instruments (“ MiFID II”) and Regulation (EU) 600/2014 of 15 May 2014 on markets in
May 10, 2021Circular CSSF 21/771 | Application of ESMA’s guidelines on disclosure requirements under the Prospectus Regulation
On 20 April 2021, the Luxembourg CSSF published Circular 21/771 (the “ Circular”) on the application of the guidelines of the European Securities and Markets Authority (ESMA) on disclosure requirements under Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities
May 10, 2021Prospectus Regulation | Update of ESMA's Q&A
On 31 March and 5 May 2021, respectively, ESMA published updates to its Questions and Answers (the “ Prospectus Q&A”) relating to Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “
May 10, 2021New Luxembourg draft law on covered bonds
With a view to align the national legislation with the EU legal framework on the issuance of covered bonds, the Luxembourg Minister of Finance submitted draft law 7822 (the “ Draft Law”) to the Luxembourg Parliament ( Chambre des Députés) on 7 May 2021. If adopted, the Draft Law will result in
May 10, 2021Publication of the Luxembourg law transposing CRD V and BRRD II
On 21 May 2021, the Luxembourg law of 20 May 2021, transposing: Directive (EU) 2019/878 of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation
May 03, 2021Securitisation Regulation | Joint Committee Q&A
On 26 March 2021, the three European supervisory authorities - European Banking Authority (EBA), ESMA and European Insurance and Occupational Pensions Authority (EIOPA), published Joint Questions and Answers (the “ Q&A”) relating to Regulation (EU) 2017/2402 of 12 December 2017 laying down a general
Apr 21, 2021Newsflash | Circular CSSF 21/769 – Teleworking in supervised entities
On 9 April 2021, the CSSF published Circular CSSF 21/769 regarding governance and security requirements for Supervised Entities (as defined below) to perform tasks or activities through Telework (as defined below) (“ Circular 21/769”). Scope of Circular 21/769 Following the significant increase in
Mar 05, 2021ESMA’s proposed changes to the Transparency Directive in light of Wirecard case
On 3 March 2021, ESMA issued a letter addressed to the European Commission proposing modifications to Directive 2004/109/EC of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market