Latest Newsletters & Newsflashes
Feb 04, 2019Circular 19/708 on Electronic Transmission to the CSSF
On January 28 th 2019 the CSSF published Circular 19/708 concerning electronic transmission of documents (“ Circular”). The Circular provides that, as of February 1 st 2019 the following entities are obliged to submit documents only via electronic means to the CSSF: alternative investment fund
Jan 31, 2019BSP Newsletter | February 2019
This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML Luxembourg Law setting up a Register of
Jan 30, 2019Benchmarks regulation | Update of ESMA Q&A
The European Securities and Markets Authority (“ ESMA”) has recently updated its Q&A on Regulation (EU) No. 2016/1011 of 8 June 2016 on indices used as benchmarks (" Benchmarks Regulation" or “ BMR”). One of the new questions considered by ESMA is whether or not the methodology of a benchmark can
Jan 21, 2019Luxembourg - Hong Kong mutual recognition of funds MOU signed by CSSF and SFC
On January 15 th 2019, the Commission de Surveillance du Secteur Financier (“ CSSF”) agreed to a Memorandum of Understating (“ MoU”) with the Securities and Futures Commission (“ SFC”) on the mutual recognition of funds. This MoU will allow Luxembourg-domiciled UCITS and Hong Kong public funds to be
Jan 17, 2019Improvements in foreign exchange administration for QFIIS/RQFIIS and opening up of Chinese capital markets
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
Jan 09, 2019Crowdfunding service providers for business | Update
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
Jan 02, 2019Update on the EU legislative proposal to facilitate cross-border distribution of investment funds
On December 6 th 2018, the Committee on Economic and Monetary Affairs (the “ Committee”) adopted the report issued by Wolf KLINZ on the proposal for a directive of the European Parliament and of the Council amending Directive 2009/65/EC of the European Parliament and of the Council and Directive
Oct 08, 2018BSP Newsletter | October 2018
This newsletter is intended as a general discussion of the following topics: Capital Markets, Corporate, Employment, Fintech, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. CAPITAL MARKETS Amendment of the Law
Jul 12, 2018Depositary Safe-Keeping Rules | Proposals for Amendment
On May 29 th 2018, the European Commission published two draft delegated regulations which contain proposals to amend certain rules relating to the safe-keeping duties of depositaries under the alternative investment fund managers directive, Directive 2011/61 EU (the “ AIFMD”) and the undertakings
Jul 12, 2018BSP Newsletter | July 2018
This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, Dispute Resolution, Employment, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML European
Jun 11, 2018Securities Financing Transactions | Administrative Sanctions
The law of June 6 th 2018 on transparency of securities financing transactions (“ Law”) implements provisions of Regulation (EU) 2015/2365 on transparency of securities financing transaction and of reuse (“ Regulation”) relating to the imposition of sanctions for non-respect of the provisions of the
Jun 01, 2018UCITS | ESMA updated Q&A
On May 25 th 2018, ESMA issued the updated version of its UCITS Q&A creating a new Section on “Remuneration”. ESMA clarified that the remuneration-related disclosure requirements under Article 69(3)(a) of the UCITS Directive also apply to the staff of the delegate of a management company to whom