Newsletters & Legal Alerts

On 11 May 2022, the European Commission (hereafter the “Commission”) published a proposal to create a level playing field for debt and equity from a tax perspective.

En date du 2 décembre 2021, la Chambre des Députés a procédé au vote du projet de loi N°7785 portant modification du Code de procédure pénale. La loi qui est désormais entrée en vigueur prévoit une s

On the 24 March 2022, the European Supervisory Authorities (ESAs) issued a supervisory statement with the aim of reducing the risk of divergent applications of Regulation (EU) 2019/288 on sustainabili

In a recent decision, the Luxembourg Supreme Court (Cour de cassation) rejected an appeal (pourvoi en cassation) lodged by Luxembourg VAT authorities (Administration de l’enregistrement, des domaines

In a judgment dated 17 March 2022, the Luxembourg Higher Administrative Court (Cour administrative) ruled that tax assessments issued by the Luxembourg Tax Administration (“LTA”) must adequately expla

On 23 February 2022, the European Commission published a proposal for a Directive on Corporate Sustainability Due Diligence (the “Directive”). The Directive will set out a horizontal framework t

Benchmark On 28 January 2022 and 1 April 2022, the European Securities and Market Authority (“ESMA”) published its updated FAQ on Benchmark Regulation (BMR).

BACKGROUND As a global financial centre, Luxembourg has traditionally been amongst the frontrunners in bringing financial innovation under its regulatory umbrella.

Background On 17 December 2021, the CSSF issued Circular 21/790 (the “Circular”) applicable to Luxembourg regulated funds (UCITS, Part II Funds, SIFs and SICARs) imposing an obligation on regulated

On 5 April 2022, the CSSF issued a communiqué inviting investment fund managers (“IFMs”) to declare via a dedicated eDesk application the performance fee models applicable to Luxembourg UCITS or

On 25 February 2022, the Luxembourg Parliament (Chambre des Députés) published an amendment (the “Amendment Law”) to the law of 17 April 2018 that had implemented Regulation (EU) 2016/1011 on indices

Context The Luxembourg Parliament (Chambre des Députés) has passed a law on inactive (also sometimes referred to as dormant) bank accounts and safe deposit boxes and on unclaimed life insurance polic

On the 29th of March 2022, during a joint meeting of the Finance and Budget Committee and the Justice Committee at the Luxembourg Parliament, Finance Minister Yuriko Backes and Justice Minister Sam Ta

The Luxembourg tax authorities issued a circular on 8 January 2021 on the interest deduction limitation rules (“ILR”) as foreseen in Article 168bis of the Luxembourg income tax law (“LITL”). The origi

On 28 March 2022 the CSSF published frequently ask questions (the “FAQs”) in relation to the annual completion and transmission of the fight against money laundering and terrorist financing compl

On 22 March 2022 the Organisation for Economic Co-operation and Development (“OECD”) released a public consultation document concerning a new global tax transparency framework to provide for the

As previously detailed in our newsflash dated 19 March 2020 (as updated), the Luxembourg Government has once again agreed on an “exceptional measure” with the Belgian, French and German Governments re

On January 20th 2022, the Luxembourg tax authorities (“LTA”) issued circular PRE_IMM n° 1 (the “Circular”), regarding the 20% real estate levy (the “Real Estate Levy”) introduced by the Luxembourg law

On 9 March 2022, the Luxembourg Ministry of Finance published the draft law No.7974 (the “Draft Law”) which relates to the interest limitation rules.

On 9 February 2022, the Luxembourg Parliament (Chambre des Députés) adopted the draft law 7825 (the "New Law"), which amends the law of 22 March 2004 on securitisation (the “Securitisation Law”, and a

The CSSF’s new electronic filing platform ”electronic Reporting of Information concerning Issuers of Securities” (eRIIS) is live since 4 March 2022 and can be accessed at this link.

On 3 February 2022, ESMA launched its Simple, Transparent and Standardised Register (the "STS Register") which, going forward, shall list all traditional securitisations notified to ESMA by the origin

On 20 January 2022, the European Securities and Markets Authority (“ESMA”) launched a Common Supervisory Action (“CSA”) with national competent authorities (“NCAs”) on valuation of UCITS and open-ende

On 24 February 2022, the European Banking Authority ("EBA") published its guidelines (the "Guidelines") on the limited network exclusion ("LNE") under Directive (EU) 2015/2366 on payment services

Implementation of a specific monitoring of the largest investment fund managers As a result of the prevailing market conditions relating to the current situation in Ukraine, the CSSF implemented on 2

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, orig

Context The Luxembourg Supreme Court  (Cour de cassation), through its decision on 3 February 2022 (No.

Aujourd'hui, l’autorité des marchés luxembourgeoise (CSSF) a publié la circulaire 22/798 modifiant la circulaire 12/548 du 30 octobre 2012 relative au Règlement (UE) N°236/2012 du Parlement européen e