News & Articles

05/01/23

EU legal framework for crypto-assets and financial sector resilience: update

The EU is working on setting out the legal framework for Fintech. On a separate but connected note, the EU legislator also addresses risks carried by …

27/12/22

EMIR 3.0 – The new EU Commission proposal

On 7 December 2022, the EU Commission published a proposal for a regulation to amend EMIR (amongst others), with the primary aim of making EU clearing…

26/12/22

New law on administrative dissolution of companies without liquidation

The Law of 28 October 2022 creating the procedure for administrative dissolution without liquidation ("Law") allows for a simplified dissolution of "e…

23/12/22

Public access to RBO invalidated by CJEU

Elvinger Hoss Prussen triggered a landmark preliminary ruling on 22 November 2022, in which the Court of Justice of the European Union ("CJEU") has de…

19/12/22

CSSF provides practical guidance on UCITS KIID replacement

From 1 January 2023, UCITS will have to provide a PRIIPs KID to retail investors and either a UCITS KIID or a PRIIPs KID to non-retail investors. The …

16/12/22

Les risques et périls liés à une requalification d’un prêt en apport déguisé

Dans un récent jugement retentissant du 23 septembre 2022, le tribunal administratif a rejeté la déduction d’intérêts notionnels sur un prêt sans inté…

14/12/22

Amendments to the Luxembourg Financial Collateral Law

On 24 July 2022, the Luxembourg law of 20 July 2022 (the “Law”) entered into force amending, among others, the law of 5 August 2005 on financial colla…

12/12/22

When transparency clashes with fundamental rights: EU court curbs public access to beneficial owner registers …

By a decision rendered on 22 November 2022, the European Court of Justice (the Court) invalidates the provision of the anti-money laundering directive…

09/12/22

The CSSF published FAQs on SFDR

08/12/22

ESG - Approval of CSRD

On 28 November 2022, the Council of the EU formally approved the Directive amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006…

07/12/22

Luxembourg Register of Beneficial Ownership's online access suspended following ECJ decision – the facts

The Luxembourg Register of Beneficial Ownership's online access has been suspended following the European Court of Justice's declaration that the Fift…

06/12/22

New EU standards on the development and implementation of processes in a remote customer onboarding context

On 22 November 2022, EBA released guidelines on the use of remote customer onboarding solutions in relation to notably Article 13(1) of Directive (EU)…

05/12/22

The new CSSF FAQ – Sustainable Finance Disclosure Regulation

On 2 December 2022, the CSSF issued an FAQ in relation to the Sustainable Finance Disclosure Regulation (EU) 2019/2088 (SFDR) (“FAQ”). In its FAQ the …

01/12/22

AIFMD II: a progress report on the reforms

A year has now passed since policymakers proposed reforms to EU rules on alternative investment funds (AIFs).

30/11/22

No longer public access to UBO data without legitimate interest

On 22 November 2022, the Court of Justice of the European Union (the "CJEU") struck down the provision of the 5th AML Directive 2018/843 ("AML V") whi…

29/11/22

Agrément de la CSSF requis pour les sociétés de services de crowdfunding et grandfathering jusqu’au 10 novembr…

Dans son communiqué de presse daté du 25 novembre 2022, la CSSF fait suite à son précédent communiqué du 10 juin 2022 concernant le Règlement (UE) 202…

29/11/22

Proposal of regulation amending the regulation (EU) 2015/760 on european long-term investment fund (“ELTIF”)

On November 25, 2021, the European Commission unveiled a proposal (“ELTIF Proposal”) amending the regulation (EUR 2015/760) as regards to the scope of…

23/11/22

Outsourcing arrangements – Overview of prior CSSF approval or notification requirements following the 2022 leg…

Following the publication of various new or revised CSSF Circulars, CSSF FAQs and CSSF notification forms in the course of 2022, we have summarised be…

23/11/22

CSSF Review on Sustainability Disclosures for Issuers – Guidance for non-financial and financial undertakings

22/11/22

DORA: the forthcoming EU legal framework on Digital Operational Resilience in the financial sector

The rules on the use of information and communication technology ("ICT") in the financial sector were traditionally country and institution-specific t…