Latest Newsletters & Newsflashes
Feb 26, 2021Exchange of information | Conditional upon exhausting domestic sources of information
In a judgment dated 25 February 2021, the Higher Administrative Court ( Cour administrative) confirmed a judgment of the Lower Administrative Court ( Tribunal administratif) concerning the lawfulness of injunction decisions issued to a Luxembourg company following a request for information from the
Feb 26, 2021Simplification of process for approval of a new sub-fund
In its press release 21/05 on 23 February 2021, the CSSF communicated the new procedure for approval of a new sub-fund under existing fund structures. The process introduces the use of a single standardised questionnaire including information related to the Benchmark Regulation (“ BMR”), the
Feb 25, 2021Luxembourg Green Exchange | New Climate-Aligned Issuers section
On 25 February 2021, the Luxembourg Stock Exchange (the “ LuxSE”) announced the launch of a brand-new section to the Luxembourg Green Exchange platform, exclusively dedicated to so-called Climate-Aligned Issuers (“ CAIs” and the section dedicated to CAIs, the “ CAIs Section”). For this project, the
Feb 22, 2021CSSF Circular 02/77 | Amendments to notification form
Background On 3 January 2017, the CSSF introduced by means of Press Release 17/01 a notification form to be used for the transmission of NAV calculation errors or non-compliance with investment rules in accordance with Circular CSSF 02/77 on the protection of investors in case of NAV calculation
Feb 08, 2021COVID-19 | Luxembourg Law Updates
This section is intended as a general discussion on the latest topics concerning Covid-19 and the Luxembourg Law. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML Annual AML Survey - Deadline Extended BANKING & FINANCE State Guarantee
Feb 08, 2021Newsflash | New terms of leave for family reasons
The Law of 22 January 2021 amending and temporarily derogating from the provisions of Articles L. 234-51, L. 234-52 and L. 234-53 of the Labour Code relating to leave for family reasons was published in the Official Journal ( Mémorial) on 22 January 2021 (hereinafter the “ Law”). Background A law of
Feb 03, 2021Modernisation of the licensing process in the financial and insurance sectors
Background In a move aimed at simplifying the administrative burden in the financial and insurance sectors, the Luxembourg Minister of Finance filed draft law No. 7761 (the “ Draft Law”) with the Luxembourg Parliament ( Chambre des Députés) on 2 February 2021. The Draft Law, if adopted, will
Feb 02, 2021Newsflash | In Luxembourg, first court decisions on COVID-19: rents for commercial leases are suspended during periods of forced closure
Commercial leases are among the contracts that are the subject of numerous disputes because of the economic situation generated by COVID-19. At the beginning of the health crisis, a draft law was considered, to temporarily suspend the obligation to pay rents related to commercial leases. However
Feb 02, 2021Newsflash | Premières prises de position des tribunaux luxembourgeois au sujet du COVID-19 : les loyers des baux commerciaux ne sont pas dûs pendant la fermeture obligatoire des lieux loués
Parmi les contrats qui font l’objet de nombreuses controverses à cause de la situation notamment économique générée par le COVID-19, il y a les baux commerciaux. Au début de la crise sanitaire, une proposition de loi avait été déposée afin de suspendre l’obligation de paiement des loyers relatifs
Feb 01, 2021BSP Newsletter | February 2021
This newsletter is intended as a general discussion of the following topics: AML Compliance, Banking & Financial Services, Capital Markets, Investment Management, Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us.
Feb 01, 2021ESMA updated its Q&As for the prospectus regulation
On 28 January 2021, ESMA updated its Questions and Answers (Q&As) relating to Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (“ Prospectus
Jan 29, 2021Sustainable Finance Insights Series - 9 | Reduced subscription tax for UCIs investing in sustainable activities
With effect from 1 st January 2021, the Law of 19 December 2020 (the “2021 Budget Law”) (please see our BSP October Newsflash ) , introduced a reduced subscription tax ( taxe d’abonnement) that will apply to Undertakings for Collective Investment (“UCIs”) investing in sustainable activities as