Latest Newsletters & Newsflashes
Mar 26, 2021Brexit | Deadline on Marketing of UK UCITS in Luxembourg
End of transitional period for the marketing of UK UCITS pushed back to 31 July 2021 On 9 February 2021, the Luxembourg Parliament ( Chambre des Députés) adopted the draft law No. 7736 (the “ Draft Law”). The Draft Law amends, inter alia, the law of 17 December 2010 relating to undertakings for
Mar 26, 2021ELTIF | ESMA proposes improvements
On 3 February 2021, ESMA sent a letter to the European Commission concerning “ Review of the Regulation (EU) 2015/760 on European long term investment funds” (the “ ELTIFs” and the “ ELTIF Regulation” or the “ Regulation”). The letter fits into the context of the impending review of the ELTIF
Mar 26, 2021COVID-19 | Extension of exceptional measures for holding meetings
Context Measures relating to holding of meetings and other legal persons, in the context of the pandemic of the Covid-19, have been initially introduced by the Grand-Ducal Regulation of 20 March 2020. These measures were extended several times; by the law of 20 June 2020, the law of 23 September
Mar 26, 2021Amendment to the Luxembourg company law to clarify financial assistance rules
Purpose of the amendment The draft law 7791, submitted to the Luxembourg Parliament ( Chambre des Députés) on 16 March 2021 (“ Draft Law”) aims to clarify whether the rules regarding financial assistance contained in the Luxembourg law of 10 August 1915 relating to commercial companies, as amended (
Mar 24, 2021Sustainable Finance Insights Series - 12 | ESMA final report on taxonomy - alignment of non-financial undertakings and asset managers
On 1 March 2021, ESMA published its final report on advice under article 8 of the taxonomy regulation (please refer to BSP Sustainable Newsflash Series number 7), which covers the information to be provided by non-financial undertakings and asset managers to comply with their disclosure obligations
Mar 22, 2021COVID-19 | Extension of teleworking for cross-border workers
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 regarding the taxation of Belgian, French and German cross-border commuters normally working in
Mar 16, 2021ESMA allows decision on reporting of net short position of 0.1% and above to expire
CONTEXT Within the context of the exceptional circumstances linked to the ongoing COVID-19 pandemic, the European Securities and Markets Authority ( ESMA) had considered on 16 March 2020, as a precautionary action aimed at allowing authorities to monitor developments in markets, to temporarily
Mar 16, 2021Sustainable Finance Insights Series - 11 | Joint ESAs supervisory statement on the application of the SFDR
Background On 25 February 2021, the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have published a joint supervisory statement on the effective and consistent application and national supervision of the Regulation 2019/2088 on sustainability-related disclosures in the financial
Mar 16, 2021Sustainable Finance Insights Series - 10 | SFDR Final Report on Draft RTS
On 4 February 2021, the European Supervisory Authorities (ESAs) published their Final Report on draft Regulatory Technical Standards (hereinafter, the “ Draft RTS”) with regard to the content, methodologies and presentation of sustainability-related disclosures under Regulation (EU) 2019/2088
Mar 15, 2021Sustainability update
SFDR FINAL REPORT ON DRAFT RTS On 4 February 2021, the European Supervisory Authorities (ESAs) published their long awaited final report on draft regulatory technical standards (hereinafter, the “ Draft RTS”) with regard to the content, methodologies and presentation of sustainability-related
Mar 11, 2021Newsflash | Brexit and right to work checks: what new obligations lie on employers?
Employers have always been required to carry out right to work checks on all new recruits, for the purpose of evidencing a right to work in Luxembourg of their employees. Following the withdrawal of the UK from the EU with effect as of 31 January 2020, and the end of freedom of movement for certain
Mar 08, 2021Clarification of the VAT treatment on cars leased to non-resident employees
The ECJ’s decision (C-288/19) on the provision of vehicles by employers to employees residing abroad On 20 January 2021, the European Court of Justice (“ ECJ”) ruled on the place of taxation of the provision of company vehicles to employees residing in a Member State other than that of their
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