Newsletters & Newsflashes

On 12 December 2024, ESMA released a consultation paper on regulatory technical standards (RTS) for open-ended loan-originating funds under the revised alternative investment fund manager directive (“ AIFMD”). According to the revised AIFMD, loan-originating Alternative Investment Funds (“ LO AIFs”)

On 24 December 2024, the Luxembourg Direct Tax Authorities issued the new circular L.G.-A No. 61 replacing the previous circular dated 8 December 2017 ( please see our previous newsletter dated 8 February 2008 for more details) which outlines the procedure for applying for tax residency certificates

Key takeaways On 21 November 2024, the Luxembourg Higher Administrative Court ( Cour administrative) handed down a decision regarding the acquisition value and the acquisition date to be ascribed to shares received by way of donation. This was particularly relevant in the context of the computation

On 28 October 2024, the EU Commission (“ EC”) introduced a proposal to amend Directive 2011/16/EU on administrative cooperation in the field of taxation (“ DAC”) to ease the exchange for Pillar Two information returns within the EU (the “ EC Proposal”). Background On 20 December 2021, the OECD and

On 10 December 2024, the Council of the European Union (“ Council”) formally adopted the Directive for Faster and Safer Relief of Excess Withholding Taxes (“ FASTER Directive”). The FASTER Directive was subsequently published in the Official Journal of the European Union on 10 January 2025. Key

On 16 October 2024, the Grand Duchy of Luxembourg and the Sultanate of Oman have signed a treaty for the elimination of double taxation with respect to taxes on income and on capital and the prevention of tax evasion and avoidance (the “ DTT”). The ratification of the DTT is currently pending in

Navigating WAL, WAM, and liquidity thresholds under MMFR Recent updates to the FAQ on Money Market Funds Regulation (“ MMFR”) (the “ FAQ”) bring clarity to compliance with Weighted Average Life (“ WAL”), Weighted Average Maturity (“ WAM”), and liquidity thresholds. Scope of Circular CSSF 24/856: WAL

On 4 December 2024, the " Listing Act", entered into force which includes: Regulation (EU) 2024/2809 amending Regulation (EU) 2017/1129 (the " Prospectus Regulation"), Regulation (EU) 600/2014 (" MiFIR") and Regulation (EU) 596/2014 (" MAR") to make public capital markets in the Union more

Continuation of the temporary LTV adjustment for buy-to-let consumer residential real estate loans CSSF Regulation No. 24-10 of 30 December 2024 extends a temporary adjustment to CSSF Regulation N° 20-08 which regulates maximum LTV ratios applicable to residential real estate loans for immovable

New FAQ On 24 December 2024, the CSSF published the FAQ on the new Circular 24/856 concerning the protection of investors in case of an NAV calculation error, an instance of non-compliance with the investment rules and other errors at UCI level (the “ Circular 24/856”). With the entry into force of

New FAQ on AML/CFT asset due diligence obligations provides practical guidance on CSSF Regulation No 12-02 On 13 December 2024, the CSSF published their first version of FAQ on AML/CFT asset due diligence . The FAQ was published in the context of Article 34 (2) of CSSF Regulation 12-02 which imposes

On 18 December 2024, CSSF published updated FAQ on SFDR The update consisted in removing questions 2 (SFDR templates as a material change), 9 (EPM techniques) and 10 (application date for periodic disclosures) as well as to update Q&A 6 and 7. Q&A 6 was updated in order to specify that investment