Newsletters & Newsflashes

On 7 August 2020, the CSSF issued an updated version of its Frequently Asked Questions concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment schemes (the “ UCITS Law” and the “ FAQ”). With this update (the ninth) CSSF introduces a new FAQ (1.13 FAQ)

On 22 June 2020, the European Union published the Regulation of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation 2019/2088 (the “ Disclosure Regulation”) on sustainability-related disclosures in the financial

On 22 June 2020 Regulation (EU)2020/852 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation 2019/2088 on sustainability-related disclosures in the financial services sector (the "Taxonomy Regulation") has

On 3 July 2020, the CSSF published Circular 20/744 (“ Circular 20/744”) complementing Circular 17/650 on application of the Law of 12 November 2004 on the fight against money laundering and terrorist financing and Grand-ducal Regulation of 1 February 2010 providing details on certain provisions of

On 8 June 2020, the European Commission published a set of draft delegated acts concerning the integration of sustainability factors under various legislative acts such as Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for

On 8 June 2020, the European Commission published a draft Commission Delegated Directive amending Directive 2010/43/EU as regards the sustainability risks and sustainability factors to be taken into account for undertakings for collective investment in transferable securities (the “ Draft Amendment”

On 8 June 2020, the European Commission published a draft Commission Delegated Regulation amending Delegated Regulation (EU) No 231/2013 as regards sustainability risks and sustainability factors to be taken into account by alternative Investment fund managers (the “ Draft Amendment”). The Draft

On 10 June 2020, the European Commission published its report assessing the application and the scope of Directive 2011/61/EU of the European Parliament and of the Council on alternative investment fund managers (the “ AIFMD”). The European Commission assessed whether the specific rules of the AIFMD

Background On 4 June 2020, ESMA issued a supervisory briefing (the “ Briefing”) on the supervision by National Competent Authorities (“ NCAs”) of costs applicable to Undertakings for the Collective Investment in Transferable Securities (“ UCITS”) and Alternative Investment Funds (“ AIFs”). The

On 28 May 2020, ESMA published an updated version of the Questions & Answers (hereinafter the “ Q&A”) on the implementation of Regulation (EU) 648/2012 of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (hereinafter referred to as “ EMIR”). The updated Q&A added the new

Sustainable finance being an evolving subject and in order to continue the European Commission’s action plan on financing sustainable growth (adopted in March 2018), the European Commission published on 8 June 2020 three different proposals in this domain. The first was draft Commission Delegated

Background On 11 March 2020, HM Treasury (the " HMT"), the office responsible for financial services legislation in the UK, published a consultation paper on a new Overseas Funds Regime (the “ OFR”). The consultation ended on 11 May 2020. While the UK is part of the EU, retail investors in the UK