Newsletters & Legal Alerts

Background In connection with Directive 2019/1937 of 23 October 2019 on the protection of persons who report breaches of Union law, the CSSF published on 5 May 2020 its first whistleblowing reporting

On 29 April 2020, the CSSF published an updated version of its FAQ (the “Updated FAQ”) on the Luxembourg law and Grand-Ducal Regulation of 11 January 2008 on transparency requirements for issuers, as

On 14 May 2020, the European Commission decided to send two letters of formal notice to Luxembourg.

On 14 May 2020, ESMA published a statement (the “Statement”) supporting the recommendations of the European Systemic Risk Board (the “ESRB”) on liquidity risk in investment funds (the “ESRB Recommenda

On 8 May 2020, the European Commission published a proposal to amend Directive 2011/16 of 15 February 2011 on administrative cooperation in the field of taxation in order to defer certain time limits

On 20 May 2020 the Luxembourg Parliament has submitted a bill introducing a screening mechanism of foreign investments in Luxembourg   Purpose of the bill Screening of foreign investments whic

The opinion of the Advocate General (“AG”) of the European Court of Justice (“ECJ”), Juliane Kokott, published on 14 May 2020 in case C-42/19, concerns a Portuguese holding company called Sonaecom, wh

[Updated on 18/05] On 14 May 2020, the CSSF published recommendations for supervised entities on telework and a possible return to the office (the “Recommendations”).

On 13 May 2020, the CSSF published a communication announcing a notification obligation (the "IFM Notification") applicable to certain investment fund managers (the "IFMs") and relating to significant

CONTEXT The ongoing COVID-19 pandemic and the related restricting measures taken by governments worldwide which has put billions of people in confinement has rapidly driven our economies into global

By law dated 12 May 2020 (the “Law”), the Chamber of Deputies of the Grand-Duchy of Luxembourg introduced temporary derogations from accounting requirements for financial sector entities, including fu

Background On 9 April 2020, the CSSF published Circular 20/739 on the application of the “Guidelines on the Reporting under Articles 4 and 12 Securities Financing Transactions Regulation” (hereafter

On 3 April 2020, the Secretariat of the Organisation for Economic Co-operation and Development (“OECD”) published some guidance on certain tax issues arising when applying international tax treaties b

Within the framework of the economic stabilisation programme announced on 25 March 2020, a law establishing a guarantee scheme supporting the Luxembourg economy was published and entered into force on

CONTEXT Due to the exceptional circumstances linked to the ongoing COVID-19 pandemic and the related restricting measures taken by the Luxembourg Government, including the confinement and the strong

On 18 March 2020, the Luxembourg government adopted a Grand-Ducal Regulation declaring a state of emergency, allowing it to take urgent measures to deal with the crisis linked to Covid-19.

Le 18 mars 2020, le gouvernement luxembourgeois a adopté un règlement grand-ducal déclarant l'état d'urgence, lui permettant de prendre des mesures urgentes pour faire face à la crise liée au Covid-19

Dans le cadre de la lutte contre la propagation du Covid-19, deux règlements grand-ducaux sont venus interférer sur la vie des chantiers et donc sur les relations contractuelles entre maîtres d’ouvrag

Background In response to the Covid-19 crisis, the Luxembourg Government declared the state of emergency by its regulation of March 18th, 2020, and passed several measures in the fight against Covid-

On 16 April 2020 the CSSF published an updated version of its frequently asked questions on COVID-19 (the “Updated FAQs”).

Contexte En réponse à la crise Covid-19, le gouvernement luxembourgeois a déclaré l'état de crise par son règlement du 18 mars 2020, et a adopté plusieurs mesures dans la lutte contre le Covid-19.

On 10 April 2020, the CSSF published Circular 20/740 to provide guidance to all professionals who are subject to the CSSF’s anti-money laundering and counter-terrorism financing (“AML/CFT”) supervisio

On 9 April 2020, the CSSF published a communication announcing a new, weekly questionnaire (the "Questionnaire") applicable to investment fund managers authorized by the Law of 17 December 2010 relati

On 13 February 2020, the Higher Administrative Court (Cour administrative) issued a ruling (docket No.

In a judgment of 28 January 2020, the Luxembourg lower administrative court (Tribunal administratif) held once again that advance tax agreements are binding upon the Luxembourg Tax Administration (“LT

On 20 February 2020, a draft law was presented to the Luxembourg Parliament with the purpose of introducing amendments to the Luxembourg legislation implementing the Common Reporting Standard (“CRS”)

On 31 March 2020, ESMA launched a consultation paper in order to draft implementing technical standards (“ITS”) in accordance with regulation (EU) 2019/1156 on facilitating cross-border distribution o

On 3 April 2020, ESMA published its guidelines on performance fees in investment funds, which will be applicable to both UCITS and certain types of AIFs.

On 18 December 2019, Directive (EU) 2019/2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision and amending Directive