Newsletters & Legal Alerts

WHEREAS The Luxembourg law of 11 January 2008 on transparency requirements for issuers (Transparency Law), supplemented by the Grand-Ducal Regulation of 11 January 2008 on transparency requirements f

Protocol to the Luxembourg-Russia double tax treaty The Protocol amending the double tax treaty between the Grand Duchy of Luxembourg and the Russian Federation (hereafter the “Protocol”) has been si

In its judgment of 10 December 2020, the Luxembourg Higher Administrative Court (Cour administrative) had to assess whether revaluation reserves booked in the annual accounts of a Luxembourg resident

On 29 September 2020, the Lower Administrative Court (Tribunal administratif) handed down several decisions in cases involving requests for information that the Luxembourg tax authorities (hereafter t

On 8 January 2021, the Luxembourg tax authorities issued a circular (Circulaire du directeur des contributions L.I.R.

On 2 July 2020, the European Court of Justice (“ECJ”) issued its judgment in case C‑835/18, SC Terracult SRL on the possibility for a taxable person to adjust an invoice and claim a refund of unduly p

In an administrative circular dated 1 December 2020 (the “Circular”), the Luxembourg tax administration confirmed that, following the judgment of the European Court of Justice (hereinafter the “ECJ”)

 Data Transfer On 24 November 2020, the Commission de Surveillance du Secteur Financier (CSSF) published an updated version of its Frequently Asked Questions concerning the Luxembourg

BACKGROUND On 3 April 2020, ESMA published its final guidelines on performance fees in investment funds – applicable to UCITS and certain types of AIFs (the “Guidelines”). As a reminder, the guideli

On 26 November 2020, the CSSF issued Frequently Asked Questions regarding the Investor Compensation Scheme Luxembourg established by article 156 of the Law 18 December 2015 and governed by Part III, T

On 8 December 2020, the CSSF issued a Communication regarding the introduction of a new eDesk module (the “Communication” and the “eDesk Module”), announcing the progressive digitalisation for the rec

Background On 16 December 2020, the CSSF issued a communication covering both new regulatory requirements on transparency with regard to the integration of sustainability risks, the consideration of

BACKGROUND On 21 December 2020 draft law No. 7736 was presented before the Luxembourg Parliament (the “Draft Law”).

As part of its actions to address the impact of COVID-19 on the financial system from a macroprudential perspective, on 6 May 2020, the European Systemic Risk Board (“ESRB”) published a recommendation

On 6 November 2020 and on 21 December 2020, ESMA updated its Questions and Answers (“Q&As”) concerning investor protection and intermediaries topics under Directive 2014/65/EU of the European Parl

Prospectus and transparency Q&As On 9 November 2020, ESMA updated its Questions and Answers (Q&As) concerning Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 Jun

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 

In a judgment dated 4 December 2020, the Lower Administrative Court (Tribunal administratif) annulled an injunction issued by the Luxembourg tax administration (“LTA”) pursuant to a request for inform

The United Kingdom has been included in the list of jurisdictions, which are deemed equivalent for the application of the national third-country regime in Luxembourg. On 23 December 2020, CSSF Regula

New Final Terms submission form Since 30 November 2020, final terms (the “Final Terms”) relating to a prospectus published in accordance with Regulation (EU) 2017/1129 of the European Parliament and

The purpose of the draft law 7723, submitted to the Luxembourg Parliament (Chambre des Députés) on 27 November 2020 (the “Draft Law”) is to: transpose into Luxembourg law Directive (EU) 2019/2034 o

On 5 October 2020, ESMA published its final report (the “Final Report”) on the guidelines (the “Guidelines”) on portability of information between securitisation repositories under Regulation (EU) 201

Background The 2020 national risk assessment of money laundering and terrorist financing (the “NRA”) was led by the Executive Secretariat of the National ML/TF Prevention Committee, with the input of

On 16 December 2020, the Administration de l’enregistrement, des domaines et de la TVA (the “AEDT”) sent letters to reserved alternative investment funds (“RAIFs”) to request them to appoint, in

On 24 December 2020, the CSSF announced that it will roll-out its annual AML online survey for the year 2020 (the “Survey”) on 15 February 2021. Similar to last year, the Survey is addressed to manag

Background The sustained and persistent rise in real estate prices and related surge in volume of mortgages has prompted Luxembourg’s systemic risk committee (the “LSRC”), the Grand Duchy’s macroprud

On 19 November 2020, the CSSF published on its website a press release (Press Release 20/23) (“Press Release”) updating Luxembourg-based entities on the recent developments regarding the UK’s Temporar