Newsletters & Newsflashes

On December 8th 2017, the Luxembourg tax authorities issued the new circular L.G.-A. No. 61 (replacing the previous Circular dated February 12th 2015, please see our previous newsletter dated March 2nd 2015) which aims to cover the procedure applicable to the request of tax residency certificates

As a reminder, as from January 1st 2018, all entities advising on or selling a packaged retail and insurance-based investment product (PRIIP) to retail investors in the European Union are required to deliver a PRIIP compliant KID to their retail investors before any investment. Regarding the

The CSSF’s updated UCITS FAQ and the CSSF press release 18/02 dated January 5th 2018 relate to the deletion of section 1.4 of the UCITs FAQ which stated that “Non-UCITS ETFs are eligible investments for UCITS if they effectively comply with all criteria of Articles 2(2) and 41(1)(e) of the Law 2010

The Grand-ducal Regulation of December 21st 2017 relating to the fees to be levied by the CSSF (the “New Grand-ducal Regulation”) entered into force as of January 1st 2018 and has created a number of changes to the fees levied on investment fund vehicles and management companies. In general, almost

The Luxembourg Stock Exchange has revised for the third time in eleven years the X Principles of Corporate Governance (the “X Principles”), this time to include a new Principle 9 on corporate social responsibility (CSR) and to integrate Principle 6 (Evaluation of the performance of the Board) in

On April 5th 2017, the European Parliament approved the Regulation (EU) 2017/1131 of June 14th 2017 on Money Market Funds (the “MMF Regulation”). The MMF Regulation enters in effect on July 21st 2018. On January 15th 2018 the European Commission, in preparation for the introduction of full

En date du 17 janvier 2018, la Chambre des députés a voté la loi portant sur le bail commercial et modifiant le Code civil, dont le projet avait été déposé en date du 3 septembre 2015 par Monsieur le Ministre de l’Economie. Jusqu’à présent, au Grand-Duché de Luxembourg le bail commercial était

As indicated in a previous newsflash, the Grand Ducal Regulation dated December 5th 2017 (the GDRL) coordinating the amended law dated August 10th 1915 on commercial companies (the Company Law) came into force on December 19th 2017 completely modifying the numbering of the Company Law. The

On January 23rd 2018 the CSSF published CSSF Circular 18/679 which amends CSSF Circular 08/337 (the “CSSF Transparency Circular”) regarding the Luxembourg Law of January 11th 2008 and the Grand-ducal Regulation of January 11th 2008 on transparency obligations of issuers (as amended). There were only

A new EU securitisation framework came into being on January 17th 2018 with the entry into force of the following Regulations: Regulation (EU) 2017/2402 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the

The CSSF has published Press Release 17/43 (the “Press Release”) for the attention of issuers of securities subject to the Law of January 11th 2008 on transparency requirements for issuers of securities, as amended. The CSSF wishes to highlight to those issuers and auditors preparing and auditing

Directive (EU) 2015/2366 on payment services (“PSD2”) entered into force on January 12th 2016 and should have been transposed by all Member States, including Luxembourg, by January 13th 2018. PSD2 repeals Directive 2007/64/EC on payment services in the internal market (“PSD1”) and introduces