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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

Background The European Commission’s release of a comprehensive reform package on 4 December 2025 represents a major step forward in the European Union’s drive to create a unified financial services market. Building on proposals first introduced in June 2024, the reform package aims to transform the

The Luxembourg Stock Exchange (“ LuxSE”) has published on 2 September 2024: an updated version of its Rules and Regulations ( Edition 09/2024) (“ R&R”) an updated version of its Markets Trading Manual (“ Trading Manual”) as well as an updated version of the appendix on LuxSE’s professional segments

Introduction On 24 April 2024, the European Parliament adopted a package of new measures which are commonly referred to as the " Listing Act" which aims to further develop the Capital Markets Union and which consists of three interconnected legislative proposals: an amending regulation amending

ESMA Report on the 2023 Common Supervisory Action and Mystery Shopping Exercise on marketing On 27 May 2024, ESMA published a report (the “ ESMA Report”) on its 2023 Common Supervisory Action (“ CSA”) with National Competent Authorities (“ NCAs”) and its Mystery Shopping Exercise (“ MSE”) related to