Newsletters & Legal Alerts

Introduction: At this is stage, it is unquestionable that the Luxembourg law of 10 July 2020 on professional payment guarantees (the “PPG Law”) is one of the main ground-breaking innovations in Luxem

On 22 June 2020, the European Union published the Regulation of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regula

On 22 June 2020 Regulation (EU)2020/852 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation 2019/2088 on sus

In our January 2020 newsletter, we stated that the following technical standards referred to under Article 7(3) and (4) of Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework

On 20 May 2020, ESMA issued a public statement to address the implications of the COVID-19 outbreak on the half-year financial reports, which must be prepared and published by issuers (the “Statement”

On 3 July 2020, the CSSF published Circular 20/744 (“Circular 20/744”) complementing Circular 17/650 on application of the Law of 12 November 2004 on the fight against money laundering and terrorist f

Purpose of the bill Setting out a special regime of civil liability for damages in connection with a nuclear incident. Providing for a specific legal framework for restitution and compensation in th

Since our last newsletter, ESMA has updated its Q&A on the Market in Financial Instruments Directive 2014/65/EU of 15 May 2014 (“MiFID II”) and on the Markets in Financial Instruments Regulation 6

The draft Luxembourg law 7216B, already referred to in our February 2018 newsletter, was voted by a first parliamentary vote on 1 July 2020 and finally adopted by dispensation from the second constitu

On 1 July 2020, the CSSF published (i) CSSF Regulation No.

Background Adding to the undoubted success of the Luxembourg law of 5 August 2005 on financial collateral arrangements (the “Financial Collateral Law”), Luxembourg’s appeal as an international hub fo

As the state of crisis came to an end on 25 June 2020, the Government announced that the mechanism of short-time working due to force majeure/COVID-19 in force since the month of March will expire at

On 18 June 2020, the Luxembourg Parliament ratified the Draft Law No.7527 (without substantial changes from the draft law), thereby modifying the law of 24 July 2015 on the Foreign Account Tax Complia

The law of 20 June 2020 introducing certain temporary measures relating to the application of the amended law of 29 August 2008 on the free movement of people and immigration was published on 25 June

Further to the recommendations of 14 May 2020 for supervised entities on telework and a possible return to the office (for details please see BSP Newsflash), the CSSF published on 19 June 2020 a commu

On 8 June 2020, the European Commission published a set of draft delegated acts concerning the integration of sustainability factors under various legislative acts such as Directive 2009/65/EC on the

On 8 June 2020, the Luxembourg government introduced a draft law on the value-added tax (“VAT”) regime for distance sales between businesses and consumers (“B2C”) within the EU primarily implementing

The Law of 4 June 2020 amending the Labour Code and introducing a regime of internships for school pupils and students was published on 5 June 2020 and entered into force on 9 June 2020 (hereinafter t

On 8 June 2020, the European Commission published a draft Commission Delegated Directive amending Directive 2010/43/EU as regards the sustainability risks and sustainability factors to be taken into a

On 8 June 2020, the European Commission published a draft Commission Delegated Regulation amending Delegated Regulation (EU) No 231/2013 as regards sustainability risks and sustainability factors to b

In its judgment dated 14 May 2020, the European Court of Justice (hereinafter “ECJ”) found the Luxembourg fiscal unity regime to be contrary to the freedom of establishment and the freedom to provide

On 10 June 2020, the European Commission published its report assessing the application and the scope of Directive 2011/61/EU of the European Parliament and of the Council on alternative investment fu

Multilateral instrument ("MLI") The Luxembourg tax authorities recently confirmed, in a newsletter issued on 8 June 2020, their intention to publish coordinated versions of the currently enforceable

On 12th June 2020, the Luxembourg Constitutional Court handed down an anticipated decision regarding the regime on collective taxation of married couples and its alleged discrimination of persons regi

Background On 4 June 2020, ESMA issued a supervisory briefing (the “Briefing”) on the supervision by National Competent Authorities (“NCAs”) of costs applicable to Undertakings for the Collective Inv

On 28 May 2020, ESMA published an updated version of the Questions & Answers (hereinafter the “Q&A”) on the implementation of  Regulation (EU) 648/2012 of 4 July 2012 on OTC derivatives,

Sustainable finance being an evolving subject and in order to continue the European Commission’s action plan on financing sustainable growth (adopted in March 2018), the European Commission published

Background On 11 March 2020, HM Treasury (the "HMT"), the office responsible for financial services legislation in the UK, published a consultation paper on a new Overseas Funds Regime (the “OFR”).