Latest Newsletters & Newsflashes
Aug 17, 2021Newsflash | Beating financial crime
The European Commission proposes a new anti-money-laundering draft legislation package to strengthen the EU's anti-money laundering and countering terrorism financing rules On 20 July 2021, the European Commission (“Commission”) presented an ambitious package of legislative proposals to strengthen
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
Aug 16, 2021Newsflash | Règles d'assistance financière non applicables aux sociétés a responsabilité limitée privée (Sàrl)
Le projet de loi 7791, visant à clarifier si les règles relatives à l’assistance financière contenues dans la loi luxembourgeoise sur les sociétés commerciales du 10 août 1915, telle que modifiée ( LSC) s'appliquent aux sociétés à responsabilité limitée ( Sàrl), comme expliqué précédemment dans la
Aug 16, 2021Newsflash | Financial assistance rules not applicable to private limited liability companies (société à responsabilité limitée)
The draft law 7791 aiming at clarifying whether the rules regarding financial assistance contained in the Luxembourg law on commercial companies of 10 August 1915, as amended ( LSC) shall apply to private limited liability companies ( SARL), as previously explained in the BSP publication " Amendment
Aug 02, 2021Circular CSSF 21/778 | UCITS marketing notifications
On 28 July 2021, the CSSF issued Circular 21/778, regarding “ Update of the Circular CSSF 11/509 in accordance with Directive (EU) 2019/1160” (the “ Circular”); the Circular amends Circular CSSF 11/509 on “Notification procedures to be followed by a UCITS governed by Luxembourg Law to market its
Aug 02, 2021Benchmark Regulation | Draft Law
Last July, Draft Law No. 7861 (the “ Draft Law”) was published containing proposed amendments to the Law 17 April 2018 (the “ Benchmark Law”) that had implemented Regulation (EU) 2016/1011 of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the
Aug 02, 2021Case C-931/19 Titanium | ECJ rules no fixed establishment for VAT purposes without own staff
In a judgment dated 3 June 2021, the European Court of Justice (“ ECJ”) ruled that own staff is required for a finding of “fixed establishment” within the meaning of Directive 2006/112/EC as amended (the “ VAT Directive”). Facts of the case In the case at hand, a Company with registered office and
Aug 02, 2021Invoice requirements applicable to intra-Community triangular transactions
On 8 April 2021, the Supreme Administrative Court ( Verwaltungsgerichtshof) of Austria submitted several questions to the European Court of Justice (the “ ECJ”) for a preliminary ruling in connection with invoicing requirements under the EU VAT rules for intra-Community triangular transactions (case
Aug 01, 2021Draft law on moral harassment
On 23 July 2021, the Luxembourg Minister of Labour filed a draft law No. 7864 (hereafter the “ Draft Law”) with the Luxembourg Parliament ( Chambre des Députés) aimed at introducing into the Luxembourg Labour Code new provisions on the protection of employees against moral harassment at work
Jul 28, 2021Newsflash | Transposition of the directive regarding cross-border distribution of collective investment undertakings into Luxembourg law
On 26 July 2021, the law of 21 July 2021 transposing the directive (UE) 2019/1160 of the European Parliament and of the Council of 20 June 2019 amending Directives 2009/65/EC and 2011/61/EU with regard to cross-border distribution of collective investment undertakings (the “ Directive”) and amending
Jul 14, 2021BSP Newsletter | July 2021
This newsletter is intended as a general discussion of the following topics: Banking & Financial Services, Corporate and M&A, Investment Management, Tax. If you would like to know more about the topics covered in this newsletter or our services, do not hesitate to contact the newsletter contributors or your usual BSP contact.