Latest Newsletters & Newsflashes
Oct 01, 2020Commission Delegated Regulations Amending the Prospectus Delegated Regulations (RTS)
Commission Delegated Regulations amending the Prospectus RTS Regulation Published on 14 September 2020 in the Official Journal of the EU, Commission Delegated Regulation (EU) 2020/1272 brought several modifications to Commission Delegated Regulation (EU) 2019/979 of 14 March 2019 supplementing
Sep 15, 2020ESMA Guidelines on Disclosure Requirements under the Prospectus Regulation
On 15 July 2020, ESMA published its final report on guidelines on disclosure requirements (the “ Guidelines”) under Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “ Prospectus
Jul 16, 2020Esma Public Statement on Implications of the COVID-19 Outbreak on Half-year Financial reports
On 20 May 2020, ESMA issued a public statement to address the implications of the COVID-19 outbreak on the half-year financial reports, which must be prepared and published by issuers (the “ Statement”). In the Statement, ESMA highlights the importance of issuers including in their reports up-to
Jul 06, 2020MiFID II & MIFIR | ESMA Q&A
Since our last newsletter, ESMA has updated its Q&A on 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”), on the following topics: Q&A on MiFID II Investor Protection and
Jul 02, 2020CSSF Regulation No. 20-02 and Circular 20/743 regarding the Provision of Investment Services or Performance of Investment Activities and Ancillary Services
On 1 July 2020, the CSSF published (i) CSSF Regulation No. 20-02 of 29 June 2020 on the equivalence of certain third countries with respect to supervision and authorisation rules for the purpose of providing investment services or performing investment activities and ancillary services by third
Jun 02, 2020Update of the CSSF Transparency FAQ
On 29 April 2020, the CSSF published an updated version of its FAQ (the “ Updated FAQ”) on the Luxembourg law and Grand-Ducal Regulation of 11 January 2008 on transparency requirements for issuers, as amended (the “ Transparency Law” and the “ Grand-Ducal Transparency Regulation”, respectively)
May 08, 2020Waiver listing fees for Covid-19 response bonds
CONTEXT The ongoing COVID-19 pandemic and the related restricting measures taken by governments worldwide which has put billions of people in confinement has rapidly driven our economies into global recession. The social and financial consequences of the outbreak represent a major challenge for
Mar 30, 2020CSSF Disclosure of information (Transparency Law – MAR)
CONTEXT The European Securities and Markets Authority ( ESMA) issued on 27 March 2020 a public statement (the Statement) to promote coordinated action by National Competent Authorities regarding issuers’ obligations to publish periodic information for reporting periods ending on 31 December 2019 or
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 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
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
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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