Newsletters & Newsflashes

Background In the context of the growing popularity of virtual assets amongst investors throughout Europe, the CSSF published on 4 January 2022 the anticipated FAQ on virtual assets addressed to credit institutions (the " FAQ"). These FAQ followed the recent publication by the CSSF of FAQ on virtual

On 19 November 2021, ESMA updated its Questions and Answers (" Q&A") in relation to Regulation (EU) 2020/1503 of 7 October 2020 on the European crowdfunding service providers for business (the “ Crowdfunding Regulation”). In addition, on 10 November 2021, ESMA published its final report (the " Final

Background On 17 December 2021, the CSSF issued Circular 21/790 (the “ Circular”) applicable to Luxembourg regulated funds (UCITS, Part II Funds, SIFs and SICARs). The Circular covers a number of topics applicable to the regulated funds themselves and to their auditors: It introduces an obligation

On 9 December 2021, the Luxembourg law of 8 December 2021 on the issuance of covered bonds (i) transposing into Luxembourg law Directive (EU) 2019/2162 of 27 November 2019 on the issue of covered bonds and covered bond public supervision, and (ii) implementing Regulation (EU) 2019/2160 of 27

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 July 2021 newsletter, the following

Background On 17 December 2021, the CSSF has published a press release for the attention of issuers of securities subject to the law of 11 January 2008 on transparency requirements for issuers of securities, as amended (the " Transparency Law") and their auditors (the " Press Release"). The CSSF

On 28 October 2021, draft law 7905 (the " Draft Law") on the granting of a state guarantee to support credit lines contracted by the Luxembourg Deposit Guarantee Fund ( Fonds de Garantie des Dépôts Luxembourg (FGDL)) was submitted to the Luxembourg Parliament ( Chambre des Députés). Background The

Background On 17 December 2021, the CSSF issued CSSF Circular 21/788 regarding guidelines for the Collective Investment Sector on the CSSF AML/CFT external report (the “ Circular”). Purpose The purpose of the Circular is to provide guidance on the report dedicated to anti-money laundering and

Background On 15 February 2022, the CSSF will start the annual online survey for the year 2021 (the “ Survey”). The Survey remains mostly unchanged compared to the previous year. However, some questions have been removed, added or amended. For ease of reference, the new questions have been

The case that led to the decision rendered by the European Court of Justice (the “ ECJ”) on 25 November 2021 in case C-437/19 concerns a request for exchange of information by the French tax authorities aiming at identifying the shareholders and ultimate beneficial owners of a Luxembourg public

Background Reverse Hybrid Entity Rule introduced in Luxembourg by the law of 20 December 2019 (hereafter the “ ATAD II Law”) implementing Council Directive (EU) 2017/952 of 29 May 2017, regarding hybrid mismatches with third countries (hereafter “ ATAD II Directive”) will apply as of 1 January 2022

The final report on sustainability-related disclosures, including taxonomy-related disclosures (the “ Draft RTS”), were published by the European Supervisory Authorities (the "ESAs") on 22 October 2021. The Draft RTS set out amendments to the set of rules and mandatory templates for financial