Latest Newsletters & Newsflashes
Mar 24, 2020NEWSFLASH | LBR availability and extension deadline for filing annual accounts
CONTEXT The Luxembourg Business Registers ( LBR) announced on 18 March 2020 that because of the exceptional circumstances linked to the ongoing COVID-19 pandemic, the client desks of LBR Luxembourg and Diekirch are temporarily closed to the public until 31 March 2020; however, online services
Mar 23, 2020NEWSFLASH | ESMA requires net short position holders to report positions of 0.1% and above
CONTEXT The European Securities and Markets Authority (" ESMA") has considered that because of the exceptional circumstances linked to the ongoing COVID-19 pandemic, it was important to lower the reporting threshold as a precautionary action aimed at allowing authorities to monitor developments in
Mar 20, 2020NEWSFLASH | Corporate rules for holding of meetings
CONTEXT While the coronavirus epidemic is also having an impact on the good governance of companies and other legal persons, the Luxembourg Government decided to enact the Grand-Ducal Regulation dated 20 March 2020 introducing measures concerning the holding of meetings in companies and other legal
Mar 19, 2020[Updated on 29/06/2020] Newsflash | Tax measures tackling the economic impacts of the COVID-19 crisis
[Updated on 29/06/2020] In response to the COVID-19 crisis, on 17 March 2020, the Luxembourg Government has declared the “state of emergency” for Luxembourg and announced several tax measures for legal entities and individuals. The main objective of these measures is to alleviate the financing and
Mar 18, 2020NEWSFLASH | Annual AML Survey - Deadline Extended
On 17 March 2020, the CSSF published a circular-letter (the “ Letter”) relating to the annual online survey for the year 2019 collecting information concerning money laundering and terrorist financing risks to which the professionals under supervision are exposed (the “ Survey”). The Survey has been
Mar 16, 2020UCITS | Updated CSSF FAQ
On 10 March 2020, CSSF issued updated Frequently Asked Questions concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment. The update concerns disclosure of the performance fee, the investment manager’s fee and the investment advisor’s fee to investors of
Mar 16, 2020MIFID II & MiFIR | Update of ESMA Q&A
Since our last newsletter, ESMA updated its Q&A on the implementation of investor protection topics under 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"): Q&A on MiFID II
Mar 16, 2020OECD releases Transfer Pricing guidance on financial transactions
On 11 February 2020, the OECD released its first transfer pricing guidelines (“ TP Guidance”) on financial transactions (OECD release) specifying how multinational companies should price intercompany financial transactions. Such guidelines constitute a follow up on the Base Erosion Profit Shifting (
Mar 12, 2020NEWSFLASH | COVID-19: managing the risk of contamination in the workplace
While the World Health Organisation has just declared the COVID-19 epidemic a “pandemic”, with the virus having reached nearly 130,000 people since December 2019, managing the risk of the virus spreading in the workplace has become a major issue for every employer. Following the announcement of
Mar 02, 2020Updated Requirements for Luxembourg UCITS marketed in Hong Kong
Background The Securities and Futures Commission of Hong Kong (the “ SFC”) and the Commission de Surveillance du Secteur Financier (the “ CSSF”) signed on 15 January 2019 a Memorandum of Understanding concerning Mutual Recognition of Covered Funds (“ MRF”) between both countries. In relation to MRF
Feb 25, 2020BREXIT | CSSF Press Release on Brexit Notifications
On 31 January 2020, the CSSF published press release 20/03 in the context of Brexit (the “ Press Release”). It refers to the CSSF’s press releases issued in 2019 on Brexit as well as the Luxembourg Laws of 8 April 2019 published in the context of the United Kingdom leaving the European Union without
Feb 24, 2020Prospectus Regulation | ESMA Updates
On 18 February 2020, ESMA updated its Q&As in relation to Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the pubic or admitted to trading on a regulated market (the “ Prospectus Regulation”) with two new Q&As clarifying the permitted length
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