Newsletters & Newsflashes

WHAT? An ICO is an unregulated and innovative way of public fund raising, by selling coins or tokens. By launching an ICO, a company (the Issuer) (startup and/or fintech company) or an individual, issue coins or tokens for sale in exchange of virtual currencies, such as Bitcoin. Sometimes, ICOs may

On October 5th 2017 ESMA added three new questions to its AIFMD Q&A. Regarding the impact of SFTR on alternative investment funds, ESMA adopts the same approach as for UCITS (see above). One difference being that for AIFMs, the information have to be disclosed to investors only in each annual report

On October 24th 2017, the CSSF published its first questions and answers on the Markets in Financial Instruments Directive (recast) – Directive 2014/65/EU (“MiFID II”) and Markets in Financial Instruments Regulation – Regulation 600/2014 (“MiFIR”) (the “Q&A”), addressing one issue related to data

This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, Data Protection, Dispute Resolution, Investment Management, IP/IT and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact

On October 20th 2017 the European Securities and Markets Authority (“ESMA”) updated its Questions and Answers on Prospectuses (“Q&A”) aligning them with those provisions of Regulation (EU) 2017/1129 (the “New Prospectus Regulation”) which are in effect since July 20th 2017, specifically points (a),

Context On October 10th 2017, the Council of State commented the draft Grand Ducal Regulation aimed at consolidating the Luxembourg law of August 10th 1915 on commercial companies, as amended from time to time (the 1915 Law). What happened? In the course of 2016, the Luxembourg Chamber of Deputy