Latest Newsletters & Newsflashes
Feb 04, 2020NEWSFLASH | Annual AML Survey - CSSF circular letter
On 31 January 2020, the CSSF published a circular-letter (the “ Letter”) on the annual online survey for the year 2019 collecting standardised key information concerning money laundering and terrorist financing (ML/FT) risks to which the professionals under supervision are exposed (the “ Survey”)
Feb 04, 2020UCITS – CSSF communication on benchmark disclosures
On 27 January 2020 the CSSF published a communication on benchmark disclosures in the key investor information document (the " KIID") of UCITS (the “ Communication”). The Communication refers to an update to ESMA Questions and Answers on the application of the UCITS Directive published on 29 March
Feb 03, 2020[Updated on 29/06/2020] Money Market Funds | Reporting and Stress Test - CSSF Circulars
On January 28, 2020, the CSSF published the following three Circulars for the attention of all money market funds (“ MMF(s)”) under the supervision of the CSSF and Luxembourg managers of MMFs as well as of those that take part in the functioning and control of these undertakings: CSSF Circular 20
Jan 31, 2020Newsflash | From complexity to simplicity – the new rules and regulations of the LuxSE enter into force today
The Luxembourg Stock Exchange’s new rules and regulations (the “ R&Rs”) enter into force today, 31 January 2020, and will certainly be warmly welcomed by issuers and their listing agents/legal advisors. The new R&Rs can be consulted here . The drive for change Driven by the need to adapt to the
Jan 23, 2020BSP Newsletter | January 2020
This newsletter is intended as a general discussion of the following topics: Banking & Financial Services, Capital Markets, Corporate and M&A, Investment Management, Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us.
Jan 16, 2020Luxembourg Parliament Adopts Budget Law 2020 and ATAD 2
Budget Law 2020 On 19 December 2019, the Luxembourg Parliament voted to approve the 2020 Budget Law (the " Budget Law"), which introduces several tax related measures, namely: i. Limitation on validity of pre-2015 Advance Tax Agreements The most important measure introduced by the Budget Law is the
Jan 16, 2020Parent-Subsidiary Directive and Gibraltar Companies
On 24 October 2019, Advocate General (" AG") Hogan published his opinion in the case ‘ GVC Services (Bulgaria)’ EOOD v Direktor na Direktsia Obzhalvane i danachno-osiguritelna praktika – Sofia (Case C-458/18) pending in front of the European Court of Justice (" ECJ") and addressing the entitlement
Jan 16, 2020Benchmark Regulation | CSSF Communication
On 24 December 2019, the CSSF published a communiqué (the " Communication") regarding Regulation (EU) 2016/1011 on indices used as benchmarks (the " Benchmark Regulation") addressed to all entities which are subject to the CSSF’s supervision and which are using benchmarks (the " Concerned Entities")
Jan 16, 2020Sustainable Finance | Recent Developments
On 9 December 2019 the European Parliament and the Council adopted two new regulations relating to sustainable finance in the context of the European Union’s aim to strengthen the response to climate change. Regulation (UE) 2019/2088 on sustainability-related disclosures in the financial services
Jan 16, 2020Crowdfunding | EU Rules Agreed
Background On 27 March 2019, the European Parliament adopted a legislative resolution on the proposal for a regulation on European Crowdfunding Service Providers (" ECSP"). Until now, the European Parliament negotiating team and the Council still had some points of discussion. An agreement has
Jan 16, 2020PSD 2 | EBA Opinion on the Deadline of the SCA
On 16 October 2019, the European Banking Authority (the " EBA") published an opinion on the deadline for the migration to strong customer authentication (the " SCA") under the Directive (EU) 2015/2366 of 25 November 2015 on payment services in the internal market (the "PSD 2") for e-commerce card
Jan 15, 2020PRIIPS Assessment Reminder | CSSF Press Release 19/60
On 11 December 2019, the CSSF published press release 19/60 (the " Press Release") reminding that pursuant to press release 19/28 published on 1 July 2019 all SIFs, Part II UCIs and SICARs are obliged to complete an online assessment about the impact of Regulation 1286/2014 on key information