Newsletters & Legal Alerts

On December 20th 2017, the Court of Justice of the European Union (“ECJ”) rendered its judgment in the joined cases of Deister Holding AG (Case C-504/16) and Juhler Holding A/S (Case C-613

The Grand-ducal Regulation of December 21st 2017 relating to the fees to be levied by the CSSF (the “New Grand-ducal Regulation”) entered into force on January 1st 2018 and repealed the Gr

Context As you may know from a previous newsflash on the subject dated October 16th 2017, a draft Grand Ducal Regulation aimed at consolidating the Luxembourg law of August 10th 1915 on commercial co

On December 12th 2017 the European Supervisory Authorities (“ESAs”) published draft regulatory technical standards amending Regulation (EU) 2016/2251 supplementing Regulation (EU) No.

Since our last newsletter, the European Securities and Markets Authority (“ESMA”) has twice updated its Questions and Answers (“Q&A”) on Regulation (EU) 596/2014 of April 1

The Luxembourg Parliament published two new draft laws (No. 7216 and No.

On November 23rd 2017, the Luxembourg government adopted a Grand-ducal Decree (the “Grand-ducal Decree”) which abolished the Grand-ducal Decree dated January 21st 2004 regarding the VAT ex

In its judgement handed down on November 22nd 2017 in case C-251/16, the European Court of Justice (the “ECJ”) had to rule on a reference for preliminary ruling by the Irish Supreme Court

WHAT? Article 30 of the Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering

Pursuant to Article 13 of Regulation (EU) 2015/2365 of November 25th 2015 on transparency of securities financing transactions (“SFT”) and of reuse (the “SFTR”), UCITS manageme

WHAT? An ICO is an unregulated and innovative way of public fund raising, by selling coins or tokens.

On October 5th 2017 ESMA added three new questions to its AIFMD Q&A. Regarding the impact of SFTR on alternative investment funds, ESMA adopts the same approach as for UCITS (see above).

On October 24th 2017, the CSSF published its first questions and answers on the Markets in Financial Instruments Directive (recast) – Directive 2014/65/EU (“MiFID II”) and Markets in

This newsletter is intended as a general discussion of the following topics: AML, Banking & Finance, Capital Markets, Data Protection, Dispute Resolution, Investment Management, IP/IT and Tax.

On October 20th 2017 the European Securities and Markets Authority (“ESMA”) updated its Questions and Answers on Prospectuses (“Q&A”) aligning them with those provisions of

Context On October 10th 2017, the Council of State commented the draft Grand Ducal Regulation aimed at consolidating the Luxembourg law of August 10th 1915 on commercial companies, as amended from ti

The Grand Chamber of the European Court of Human Rights (“ECHR”) issued yesterday a highly anticipated ruling in the case Barbulescu / Romania (n°61496/08) regarding the monitoring of employees’ elect

On June 1st 2017, the Luxembourg Supreme Court (Cour de Cassation) decided on the possible applicability of the rules on non-contentious administrative proceedings (Procédure administrative non-conten

The Law of March 8th, 2017 (hereinafter: the “Law”) amending the law of August 29th, 2008 on freedom of movement and immigration, as amended, implements both Directive 2014/36/UE on the conditions of

REMINDER - WHAT? The “Global Legal Entity Identifier System” (GLEIS) is a unique identifier system for financial markets designed to create and apply a single universal standard identifier to any org

WHAT? Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a r

Background With the development of the European Union (“EU”) and its four freedoms (i.e. capital, goods, services, and labour) cross-border movements have become faster and easier.

This newsletter is intended as a general discussion of the following topics: Banking & Finance, Capital Markets,  Corporate, Investment Management and Tax. If you would like to know more abo

On January 18th 2017, the Regulation (EU) No.

After nearly four years of heated discussions, the European Parliament adopted on 14 April 2016 the new General Data Protection Regulation (GDPR)[1].

On January 30th 2017 ESMA issued an Opinion on share classes for UCITS (the “Opinion”) addressed to national competent authorities (“NCAs”) which follows the issuance of two discussion papers. ESMA p

The Luxembourg law dated July 23rd  2016 [1] (the “New Law”) amending inter alia the law dated March 29th 2013 relating to the organisation of the criminal records came into force on February 1st

This newsletter is intended as a general discussion of the following topics: Banking & Finance, Capital Markets,  Corporate, Investment Management and Tax. If you would like to know more abo

The law dated July 23rd 2016 introducing the S.à r.l.-S as a variant of the currently existing private limited liability company (Société à responsabilité limitée or S.à r.l.) in Luxembourg came into

On December 27th 2016, the head of the Luxembourg tax authorities issued circular L.I.R.