Latest Newsletters & Newsflashes
Apr 25, 2018BSP Newsletter | April 2018
This newsletter is intended as a general discussion of the following topics: Banking & Finance, Capital Markets, Corporate, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML Implementation of the 4 th Anti
Apr 03, 2018Prospectuses | Update of ESMA Q&A
On March 28 th 2018 the European Securities and Markets Authority (“ ESMA”) updated its Questions and Answers on Prospectuses (“ Q&A”) to include one new question and answer on profit forecasts, specifically how it can be determined whether a profit forecast has been made. ESMA firstly reiterates
Mar 28, 2018Market Abuse | Update of ESMA Q&A
On March 23 rd 2018 the European Securities and Markets Authority (“ ESMA”) updated its Questions and Answers on the market abuse regulation (“ Q&A”) to amend Question 5.1 on the disclosure of inside information related to Pillar 2 requirements (“ Question 5.1”). In the context of credit
Feb 14, 2018NEWSFLASH | Cryptocurrencies: ESMA, EBA and EIOPA alert consumers on risks of investing in cryptocurrencies
WHAT? By definition, a cryptocurrency or virtual currency ( VC) is a digital or virtual representation of value using cryptography to secure its transactions. Contrarily to centralised electronic money and traditional/fiat currencies ( central banking system), cryptocurrencies use decentralized
Feb 08, 2018BSP Newsletter | February 2018
This newsletter is intended as a general discussion of the following topics: Banking & Finance, Capital Markets, Corporate, Investment Funds and Tax. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML Beneficial Ownership Registers |
Feb 08, 2018LXSE amends X Principles of Corporate Governance
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
Jan 16, 2018Update of CSSF Circular on Transparency Rules
On January 23 rd 2018 the CSSF published CSSF Circular 18/679 which amends CSSF Circular 08/337 (the “ CSSF Transparency Circular”) regarding the Luxembourg Law of January 11 th 2008 and the Grand-ducal Regulation of January 11 th 2008 on transparency obligations of issuers (as amended). There were
Jan 15, 2018Entry into Force of New EU Securitisation Framework
A new EU securitisation framework came into being on January 17 th 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
Jan 15, 2018Transparency Law | CSSF Enforcement
The CSSF has published Press Release 17/43 (the “ Press Release”) for the attention of issuers of securities subject to the Law of January 11 th 2008 on transparency requirements for issuers of securities, as amended. The CSSF wishes to highlight to those issuers and auditors preparing and auditing
Jan 08, 2018LXSE | Amended Rules and Regulations
The Luxembourg Stock Exchange (“ LxSE”) has published Edition 01/2018 of the Rules and Regulations of the LxSE (the “ R&Rs”) which replaces version 07/2016 that entered into force on January 1 st 2016. The LxSE has also, very helpfully, published questions and answers regarding the amendments to the
Dec 19, 2017Grand-ducal Regulation on CSSF Fees
The Grand-ducal Regulation of December 21 st 2017 relating to the fees to be levied by the CSSF (the “ New Grand-ducal Regulation”) entered into force on January 1 st 2018 and repealed the Grand-ducal Regulation of October 28 th 2013. The New Grand-ducal Regulation (in the same way as its
Dec 14, 2017Market Abuse | Update of ESMA Q&A
Since our last newsletter, the European Securities and Markets Authority (“ ESMA”) has twice updated its Questions and Answers (“ Q&A”) on Regulation (EU) 596/2014 of April 16 th 2014 on market abuse (the “ Market Abuse Regulation”), firstly to include two new questions and answers in Section 7 on
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