Newsletters & Newsflashes

Since our last newsletter, ESMA has updated its Q&A on the Market in Financial Instruments Directive 2014/65/EU of 15 May 2014 (“ MiFID II”) and on the Markets in Financial Instruments Regulation 600/2014 of 15 May 2014 (“ MiFIR”), on the following topics: Q&A on MiFID II Investor Protection and

The draft Luxembourg law 7216B, already referred to in our February 2018 newsletter, was voted by a first parliamentary vote on 1 July 2020 and finally adopted by dispensation from the second constitutional vote granted by the Council of State on 10 July 2020 (the “ Fiduciary Arrangement Law”). The

On 1 July 2020, the CSSF published (i) CSSF Regulation No. 20-02 of 29 June 2020 on the equivalence of certain third countries with respect to supervision and authorisation rules for the purpose of providing investment services or performing investment activities and ancillary services by third

Background Adding to the undoubted success of the Luxembourg law of 5 August 2005 on financial collateral arrangements (the “ Financial Collateral Law”), Luxembourg’s appeal as an international hub for cross-border financing transactions is about to get a boost with the introduction of a new

As the state of crisis came to an end on 25 June 2020, the Government announced that the mechanism of short-time working due to force majeure/COVID-19 in force since the month of March will expire at the end of June. However, considering that a large number of companies will continue to suffer from

On 18 June 2020, the Luxembourg Parliament ratified the Draft Law No.7527 (without substantial changes from the draft law), thereby modifying the law of 24 July 2015 on the Foreign Account Tax Compliance Act (“ FATCA Law”) and the law of 18 December 2015 on the Common Reporting Standard (“ CRS Law”)

The law of 20 June 2020 introducing certain temporary measures relating to the application of the amended law of 29 August 2008 on the free movement of people and immigration was published on 25 June 2020 and entered into force on the same day (hereinafter referred to as the “ Law”). The purpose of

Further to the recommendations of 14 May 2020 for supervised entities on telework and a possible return to the office (for details please see BSP Newsflash), the CSSF published on 19 June 2020 a communication on measures to be taken in light of the return to working on-site (the “ Communication”)

On 8 June 2020, the European Commission published a set of draft delegated acts concerning the integration of sustainability factors under various legislative acts such as Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for

On 8 June 2020, the Luxembourg government introduced a draft law on the value-added tax (“ VAT”) regime for distance sales between businesses and consumers (“ B2C”) within the EU primarily implementing the EU VAT Directive on distance sales (Directive EU/2017/2455, the “ Directive”) into the

The Law of 4 June 2020 amending the Labour Code and introducing a regime of internships for school pupils and students was published on 5 June 2020 and entered into force on 9 June 2020 (hereinafter the “ Law”). The Law applies to all internship agreements concluded from 9 June 2020. Categories of

On 8 June 2020, the European Commission published a draft Commission Delegated Directive amending Directive 2010/43/EU as regards the sustainability risks and sustainability factors to be taken into account for undertakings for collective investment in transferable securities (the “ Draft Amendment”