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The Luxembourg Stock Exchange (" LuxSE") March 2026 update to its Rules & Regulations (the "R&R") introduces two key changes. First, securities listed on the Euro MTF Specialist Securities Segment (" EM3S") may now be admitted to listing before being recorded in a central securities depository ("

On 18 February 2026, ESMA published a public statement providing guidance to national competent authorities (" NCAs"), issuers and their advisers on the implementation of certain changes to the Prospectus Regulation (EU) 2017/1129 (the " Prospectus Regulation" or " PR"), as amended by Regulation (EU

Two recent developments under the Market Abuse Regulation (Regulation (EU) No 596/2014) (" MAR") deserve attention. First, on 27 February 2026, ESMA published a report (the " Report") proposing amendments to Commission Delegated Regulation (EU) 2016/1052 (the " Buy-Back Delegated Regulation")

On 16 February 2026, ESMA published Q&A 2775 under the Transparency Directive (Directive 2004/109/EC) and its Guidelines on Alternative Performance Measures (the " APM Guidelines"). The Q&A addresses the interaction of the APM Guidelines and IFRS 18 Presentation and Disclosure in Financial

On 17 December 2025, the Luxembourg Parliament adopted the law of 19 December 2025 establishing a quantitative target for gender balance among directors of listed companies with a view to transposing Directive (EU) 2022/2381 (the " Gender Balance Law"). For those who have been following this

In December 2025, ESMA issued two Q&As ( Q&A 2741 and Q&A 2742 ) offering welcome clarity to issuers grappling with the intricacies of the EU Prospectus Regulation (2017/1129). These clarifications address critical questions about supplement obligations and prospectus exemptions, offering meaningful