Latest Newsletters & Newsflashes
Jul 13, 2022Crowdfunding Regulation | Latest legal and regulatory developments
Introduction Since the entry into force of Regulation (EU) 2020/1503 of 7 October 2020 on European crowdfunding service providers for business (the “ Crowdfunding Regulation”) on 10 November 2021, and its transposition into Luxembourg law by the Law of 25 February 2022, the legislative and
Jul 05, 2022MICA | Regulation of distributed ledger technology
The first cornerstone: the adoption of the Markets in Crypto-assets (“MiCA”) regulation On 30 June 2022, the European Parliament and Council reached a provisional agreement on the MiCA regulation (the " MiCA Regulation"), providing a long-awaited legal framework for crypto-assets. The MiCA
Jul 01, 2022MiFID II and MiFIR | ESMA: updated Q&As and CSSF adoption of final report on appropriateness and execution-only requirements
Since we last provided an update on ESMA's Questions and Answers (" Q&As") on Directive 2014/65/EU of 15 May 2014 on markets of financial instruments (" MiFID II") and Regulation (EU) 600/2014 of 15 May 2014 on markets of financial instruments (" MiFIR") in our January 2021 newsletter, the following
Feb 14, 2022Newsflash | Draft law 7825 amending the Securitisation Law has been passed!
The amendments to the law of 22 March 2004 on securitisation (the “ Securitisation Law”) proposed by the much awaited draft law 7825 (the " Draft Law") are an encouraging development for investors, originators and sponsors alike, since they promise a more flexible and secure framework and aim at
Feb 02, 2022Newsflash | DLT financial instruments can now be registered on the Securities Official List of the Luxembourg Stock Exchange
A fast mover on technological innovation in capital markets, the Luxembourg Stock Exchange (the " LuxSE") has decided to allow security tokens to be registered on its Securities Official List (the " SOL"). For the avoidance of doubt, and in accordance with the current EU regulatory framework
Jan 14, 2022Newsflash | Proposed changes to the Luxembourg financial collateral law
Draft law proposing amendments to the Luxembourg financial collateral law On 20 December 2021, a draft law No. 7933 (the " Draft Law") was lodged with the Luxembourg Parliament (" Chambre des Députés"). While the main aim of the Draft Law is to implement Regulation (EU) 2021/23 of 16 December 2020
Apr 21, 2021Newsflash | Circular CSSF 21/769 – Teleworking in supervised entities
On 9 April 2021, the CSSF published Circular CSSF 21/769 regarding governance and security requirements for Supervised Entities (as defined below) to perform tasks or activities through Telework (as defined below) (“ Circular 21/769”). Scope of Circular 21/769 Following the significant increase in
Jan 25, 2021Newsflash | New Luxembourg Law allows issuance of dematerialised securities using distributed ledger technology (DLT)
A further step towards integration of DLT in the Luxembourg capital markets sphere On 21 January 2021, the Luxembourg Parliament adopted draft law 7637 aiming at modernising the law of 6 April 2013 on dematerialised securities (the “ 2013 Law”) by expressly recognising the possibility of using
Nov 23, 2020Newsflash | Systemic Risk Committee Issues Recommendation to the CSSF with Respect to LTV Ratios of Property Loans
Background The sustained and persistent rise in real estate prices and related surge in volume of mortgages has prompted Luxembourg’s systemic risk committee (the “ LSRC”), the Grand Duchy’s macroprudential authority, to issue on 9 November a recommendation to the CSSF to introduce stricter loan-to
Aug 18, 2020New Luxembourg Law on Professional Payment Guarantees: a practical analysis of its potential
Introduction: At this is stage, it is unquestionable that the Luxembourg law of 10 July 2020 on professional payment guarantees (the “ PPG Law”) is one of the main ground-breaking innovations in Luxembourg financial law over the last decade. In our last newsletter edition , published on 1 July 2020
Apr 30, 2020State Guarantee Scheme for Bank Loans Granted to Companies in Temporary Distress because of the Covid-19 Crisis
Within the framework of the economic stabilisation programme announced on 25 March 2020, a law establishing a guarantee scheme supporting the Luxembourg economy was published and entered into force on 18 April 2020 (the “ Law”). The Law will allow the Luxembourg State to back loans granted by credit
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
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