Newsletters & Newsflashes

On 1 August 2025, in case C-600/23 Royal Football Club Seraing SA v. Fédération Internationale De Football Associations (FIFA), Union des associations européennes de football (UEFA), Union royale belge des sociétés de football association ASBL (URBSFA), the Court of Justice of the European Union

Luxembourg Draft Law No. 8628 (the “ Draft Law”) transposes Directive (EU) 2024/927 into the Law of 17 December 2010 on undertakings for collective investment (the “ UCI Law”) and the Law of 12 July 2013 on alternative investment fund managers (the “ AIFM Law”), focusing on delegation, liquidity

Luxembourg Draft Law No. 8628 (the “ Draft Law”) transposes Directive (EU) 2024/927 into the law of 17 December 2010 on undertakings for collective investment (the “ UCI Law”) and the law of 12 July 2013 on alternative investment fund managers (the “ AIFM Law”), focusing on delegation, liquidity

In its judgment of 17 September 2025, the Lower Administrative Court ( Tribunal administratif) delivered a significant decision (n° 47603) on permanent establishment determination and commercial profit characterisation for non-resident professional service providers. The Court ruled that the

Background On 4 September 2025, Advocate General Kokott (AG Kokott) delivered her Opinion in the case C-121/24, Vaniz EOOD , on the conditions under which a third party may be held jointly and severally liable for unpaid VAT under national law, based on EU VAT legislation. The case at hand concerned

On 8 October 2025, the Luxembourg Minister of Finance presented the 2026 budget (the “ Budget Law”) oriented towards growth and social cohesion. The Budget Law provides for significant investments in innovation and infrastructure. On the tax side, it sets the 2026 agenda and has been complemented by

Publication The CSSF officially published Circular 25/894 (the " Circular") on 26 June 2025, setting out a broader framework and expanded notification obligations for Luxembourg investment fund managers (" IFMs") managing funds that are not authorised by the CSSF. In principle, the Circular states

The European Supervisory Authorities (being the EBA, EIOPA, and ESMA, "ESAs”) have published a comprehensive guide (the “ Guide”) on oversight activities for critical Information and Communication Technology (ICT) third-party providers ( "CTPPs”) under the Digital Operational Resilience Act (

Draft amendment regulation to amend Commission Delegated Regulation (EU) 2017/567 The latest legislative amendments to MiFIR were introduced by Regulation (EU) No 2024/791 (" MiFIR review"). The MiFIR review removed barriers to the creation of three consolidated tape providers (for bonds, shares and

As part of its strategy to foster competitiveness and innovation across the European Union, the European Commission has launched a public consultation on the creation of a “28 th Regime”, being a single, harmonised set of company law rules that innovative businesses could choose to apply throughout

The Corporate Sustainability Reporting Directive (CSRD), adopted on 14 December 2022, sets out a EU framework requiring certain companies to comply with sustainability reporting and due diligence obligations. Initially, Member States were required to transpose the CSRD into national law by 6 July