Newsletters & Legal Alerts

PROPOSITION D’EXTENSION Alors que la situation due à la pandémie de Covid 19 continue à avoir un impact sur la bonne gouvernance des sociétés et autres personnes morales, il a été déposé en date du 2

PROPOSED EXTENSION As the Covid 19 pandemic situation continues to have an impact on the sound governance of companies and other legal persons, a bill of law has been filed on 24 November 2021 to ext

For more or less ten years, the Luxembourg financial sector has been increasingly looking and using for IT outsourcing solutions essentially due to costs reduction schemes following the latest financi

Our Employment, Compensations & Benefits department dig into the leave entitlement for employees in Luxembourg. How many statutory holidays do we have in Luxembourg?

Tax measures presented in the Draft Budget Bill On 13 October 2021, the Luxembourg Finance Minister presented its 2022 draft Budget Bill (hereinafter the “Draft Law”), which includes no major tax re

The proposed sustainability amendments to Directive 2010/43/EU (the “UCITS Directive”) and to Delegated Regulation (EU) 231/2013 (the “AIFM Regulation”) integrating sustainability considerations into

On 22 September 2021, the Commission de Surveillance du Secteur Financier (“CSSF”) published (the “Communication”) on its website inviting investment fund managers (“IFMs”) to proceed with a declarati

On 14 July 2021, the European Commission (EC) responded to the letter of 7 January 2021 addressed to it by the European Supervisory Authorities (ESAs) in relation to the application of  Regulatio

On 28 September 2021, the Luxembourg Minister of Labour filed a draft law n°7890 (hereafter the “Draft Law”) with the Luxembourg Parliament (Chambre des Députés) aimed at introducing into the Luxembou

On 28 September 2021, the Commission Delegated Regulation (EU) 2021/1722 of 18 June 2021 (the “Regulation”), supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council (the “

Background  On 24 September 2021, the CSSF issued a new Circular 21/782 regarding the adoption of the revised guidelines by the European Banking Authority (“EBA”), on money laundering and terror

On 15 September 2021, the Lower Administrative Court issued four decisions on the lack of competence of the Luxembourg Direct Tax Authorities (hereinafter “ACD”) to supervise family asset management c

Context On 10 August 2021, the Luxembourg Tax Administration issued an administrative circular ICC No.31 (the “Circular”) providing further clarifications in respect of the treatment of loss car

The Luxembourg Government has once again reached agreements on an “exceptional measure” with the Belgian, French and German Governments regarding the taxation of Belgian, French and German cross-borde

On 21 July 2021, the law transposing Directive (UE) 2019/1160 with regard to cross-border distribution of collective investment undertakings (the “CBD”) and amending:  the law of 17 Decem

Modernisation of the licensing process in the financial and insurance sectors On 26 July 2021, the Luxembourg law of 21 July 2021 which empowers the CSSF or the Commissariat aux Assurances, as applic

On 31 August 2021, the Commission de Surveillance du Secteur Financier (the “CSSF”) published a communication update in relation to the requirement to submit liquidation extension request for funds in

The LBR has recently issued a public notice specifying new rules relating to the filing process of documents with the Luxembourg Trade and Companies Register (the “RCS”).

Since our last newsletter, ESMA has twice updated its Questions and Answers ("Q&As") relating to Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the pros

On 17 August 2021, the Commission de Surveillance du Secteur Financier (the “CSSF”) published an updated version of its Frequently Asked Questions concerning the Luxembourg Law of 17 December 2010 rel

On 17 August 2021, the Luxembourg government introduced a draft law amending among others the amended law of 19 December 2008 on inter-administrative and judicial cooperation and the reinforcement of

On 28 July 2021, the Luxembourg Tax Administration (“LTA”) published Circular L.G.-A no 67 setting out general guidance on the application of administrative fines in cases of tax fraud, criminal fraud

In August 2021, the Luxembourg Stock Exchange (“LxSE”) published guidelines for the listing of special purposes acquisition companies (“SPACs“) on its markets, which complement the general admission r

Change of Authorisation Process for new UCI and/or new sub-funds  In a communiqué of 30 July 2021, the CSSF announced the introduction of a new questionnaire named “Fund Pre-Inception Readiness

The European Commission proposes a new anti-money-laundering draft legislation package to strengthen the EU's anti-money laundering and countering terrorism financing rules   On 20 July 2021, t

On 6 August 2021, ESMA updated its Questions and Answers (“Q&A”) on the Regulation (EU) No.

On 15 July 2021, ESMA issued a public statement (the “Statement”) providing guidance on prospectus disclosure and investor protection considerations in special purpose acquisition companies (“SPACs”).