Newsletters & Legal Alerts

The coronavirus has spread around the globe and the scale of the threat faced today underlines the imperative need for coordinated restriction measures on the free movement of people at the European l

On 2 April 2020, the European Court of Justice (“ECJ”) rendered its judgment in the case ‘GVC Services (Bulgaria)’ (C-458/18) following a preliminary ruling requested by the Sofia Administrative Court

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-

The European Securities and Markets Authority (ESMA), together with National Competent Authorities (NCAs) closely monitor the situation in view of the continuing impact of the COVID-19 outbreak on fin

On 26 March 2020, the CSSF published a communication on lodging out-of-court complaints (the "Communication") available to customers of the professionals subject to the CSSF supervision. Pursuant to

On 27 March 2020, the European Securities and Markets Authority (ESMA) announced a public consultation on its draft guidelines (the "Guidelines") on article 25 of Directive 2011/61/EU on alternative i

On 20 March 2020 the CSSF published an updated version of its frequently asked questions on swing pricing mechanism (the “Updated FAQs”).

In the course of the year 2017, an employee of Company A prepared and filed the 2015 tax return for Company B, a subsidiary of Company A. The employee however had no authority to do so.

In recent days, due to the outbreak of COVID-19, the CSSF has published a series of communications addressed to participants in the investment funds sector.

CONTEXT The European Securities and Markets Authority (ESMA) issued on 27 March 2020 a public statement (the Statement) to promote coordinated action by National Competent Authorities regarding issue

Due to the current state of crisis, the Government Council adopted the Grand-Ducal Regulation of 25 March 2020, which was published the same day and entered into force on 26 March 2020.

On 25 March 2020, the Luxembourg Government Council approved a draft law which aims at introducing a specific non-deductibility rule for interest and royalties paid or due to an affiliated enterprise

On 21 March 2020, the Luxembourg Parliament adopted the law implementing Directive (EU) 2018/822 (“DAC 6”) which introduces new reporting obligations on Luxembourg intermediaries that design, market o

In light of the Covid 19 crisis in order to allow Luxembourg companies to function normally and hold their meetings without physical presence to prevent the spreading of the virus at such meetings whi

CONTEXT The Luxembourg Business Registers (LBR) announced on 18 March 2020 that because of the exceptional circumstances linked to the ongoing COVID-19 pandemic, the client desks of LBR Luxembourg an

CONTEXT The European Securities and Markets Authority ("ESMA") has considered that because of the exceptional circumstances linked to the ongoing COVID-19 pandemic, it was important to lower the repo

CONTEXT While the coronavirus epidemic is also having an impact on the good governance of companies and other legal persons, the Luxembourg Government decided to enact the Grand-Ducal Regulation date

[Updated on 29/06/2020] In response to the COVID-19 crisis, on 17 March 2020, the Luxembourg Government has declared the “state of emergency” for Luxembourg and announced several tax measures for lega

On 17 March 2020, the CSSF published a circular-letter (the “Letter”) relating to the annual online survey for the year 2019 collecting information concerning money laundering and terrorist financing

On 10 March 2020, CSSF issued updated Frequently Asked Questions concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment.

Since our last newsletter, ESMA updated its Q&A on the implementation of investor protection topics under the Market in Financial Instruments Directive 2014/65/EU of 15 May 2014 ("MiFID II") and o

On 11 February 2020, the OECD released its first transfer pricing guidelines (“TP Guidance”) on financial transactions (OECD release) specifying how multinational companies should price intercompany f

While the World Health Organisation has just declared the COVID-19 epidemic a “pandemic”, with the virus having reached nearly 130,000 people since December 2019, managing the risk of the virus spread

Background The Securities and Futures Commission of Hong Kong (the “SFC”) and the Commission de Surveillance du Secteur Financier (the “CSSF”) signed on 15 January 2019 a Memorandum of Understanding

On 31 January 2020, the CSSF published press release 20/03 in the context of Brexit (the “Press Release”).

On 18 February 2020, ESMA updated its Q&As in relation to Regulation (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the pubic or admitted to tradin

On 6 February 2020 the European Securities and Markets Authority (ESMA) published its strategy on sustainable finance (the "Sustainable Strategy").

On 22 January 2020, the Luxembourg lower administrative court (Tribunal administratif) handed down a judgment on the deductibility of French CSG/CRDS contributions (Contribution Sociale Généralisée/Co

Background On 27 January 2020, the CSSF published its first ML/FT risk analysis on the collective investment sector (the “Analysis”). In 2019, in order to link the national risk assessment (“NRA”)

On 31 January 2020, the CSSF published a circular-letter (the “Letter”) on the annual online survey for the year 2019 collecting standardised key information concerning money laundering and terrorist