Latest Newsletters & Newsflashes
Jan 29, 2025Luxembourg Draft Law No. 8460 | The new age of instant credit transfers in Luxembourg
Since 2017, European banks and other payment service providers (“ PSPs”) have been able to offer instant credit transfer (“ ICT”) services, to their customers (i.e. payment service users (“ PSUs”), that allow them to make euro transfers immediately, 24 hours a day and every day of the year. These
Jan 29, 2025Blockchain IV | New Law adopted
On 19 December 2024, the Luxembourg Parliament ( Chambre des Députés ) voted and adopted the Blockchain Law IV (or the " New Law"), a landmark step in advancing the country’s legal framework for distributed ledger technology (" DLT"). This legislation facilitates the issuance of digital securities
Jan 28, 2025ESG I ESMA Q&A on guidelines on funds' name using ESG or sustainability-related terms
On 13 December 2024, ESMA published Q&As containing further details on specific aspects of the practical application of the Guidelines on funds' names using ESG or sustainability-related terms The Q&As apply to UCITS and AIF and are covering three specific topics: green bonds ( ESMA QA 2368 for
Jan 28, 2025UCI I CSSF FAQs updated
On 19 December 2024 and 2 January 2025, the CSSF has updated its Frequently Asked Questions (“ FAQs”) regarding the Luxembourg Law of 17 December 2010 on undertakings for collective investment (“ UCITS”)(“ the 2010 Law”). New questions were introduced by the CSSF (12.1) providing specific guidance
Jan 28, 2025AML/CFT I CSSF Launches 2024 annual questionnaire on financial crime
The CSSF has announced the 2024 annual AML/CFT questionnaire (the “ 2024 questionnaire”) will be accessible on the eDesk platform from 24 February 2025, with a submission deadline of 4 April 2025. The initiative aims to collect standardised information on money laundering and terrorism financing
Jan 28, 2025ELTIF 2.0 I Regulatory technical standards published in the EU Official Journal
On 25 October 2024, the European Commission adopted Delegated Regulation (EU) 2024/2759, supplementing Regulation (EU) 2015/760 (the “ ELTIF Regulation”) as amended by Regulation (EU) 2023/606 (“ELTIF 2.0"). The new regulatory technical standards (“ RTS”), published in the Official Journal of the EU
Jan 28, 2025AIFMD I ESMA releases new Q&As on safekeeping and delegation rules
ESMA has published two new Q&As under the alternative investment fund managers directive (“ AIFMD”). These updates address safekeeping of client money and delegation of portfolio or risk management to non-supervised undertakings outside the EU, providing clearer regulatory guidance for AIFMs. AIFMs
Jan 28, 2025MMF I CSSF Circular 24/866 streamlining data collection for investment funds
New rules redefine reporting for MMFs and non-MMF investment funds Following the ECB Regulation 2024/1988, the CSSF Circular 24/866, issued in collaboration with the Banque Centrale du Luxembourg (“ BCL”), is here to develop how Money Market Funds (“ MMFs”) and non-MMF investment funds report their
Jan 28, 2025BSP Newsletter | January 2025
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Jan 28, 2025CSSF feedback on delegation of portfolio management functions by IFMs
Following a supervisory review of the monitoring put in place by selected investment fund managers (“ IFMs”) in relation to the delegation of the portfolio management function, the CSSF published in October 2024 its main observations and related recommendations for improvement in a feedback report
Jan 28, 2025ESG I The European Commission issues draft FAQs on EU Taxonomy
On 29 November 2024 the EC published the draft Notice containing FAQs relating to the EU Taxonomy The European Commission (“ EC”) published further guidance on the EU Taxonomy in the form of a draft Notice containing FAQs, (the “Draft Commission Notice on the interpretation and implementation of
Jan 27, 2025Shortening Settlement Cycle in the EU
The CSSF has published a communiqué drawing attention to the Final Report providing the assessment of the shortening of the settlement cycle in the European Union (EU), published on 18 November 2024 by the European Securities and Markets Authority (ESMA) (the “ ESMA Report”). The ESMA Report
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