News & Articles

25/01/24

ICT-related incident reporting – new CSSF Circular and Regulation

On 5 January 2024, the Commission de Surveillance du Secteur Financier (CSSF) issued Circular CSSF 24/847 (CSSF Circular). At the same time, the CSSF …

24/01/24

New EBA guidelines to manage AML risks as part of the activities of crypto-asset service providers

EBA released guidelines amending ML/TF Risk Factors Guidelines to include crypto-asset service providers within its AML framework.

19/01/24

New law on public holidays

In 2019, Luxembourg introduced a new public holiday on 9 May to celebrate Europe Day, bringing the number of public holidays to 11.

18/01/24

Directors' fees are no longer subject to VAT in Luxembourg

On 21 December 2023, the Court of Justice of the European Union (“ CJEU ” or “ Court ”) issued a decision on the case C-288/22. The Court puts an end …

17/01/24

AFM's spotlight on substantial holding notifications

In its recently published market watch, the AFM focuses on notifications of substantial holdings and gross short positions. The AFM expands on its sup…

12/01/24

Competition law in 2024: putting theory into practice

2023 marked the near finale of the European Commission’s overhaul of its competition policy, leaving only a few loose ends to tie up in 2024/2025.

10/01/24

ELTIF 2.0 now applicable! What does it mean in practice?

The European Parliament voted on 15 February 2023 in favour of a major update to the EU’s regulation for long-term investment funds (ELTIFs), also kno…

04/01/24

Luxembourg’s new bill on merger control

Luxembourg is the last EU Member State without a legal framework on merger control. At present, the Competition Authority (“Authority”) can only inter…

02/01/24

European Green Bonds Regulation adopted

The long-awaited Regulation (EU) 2023/2632 on European Green Bonds (“Regulation”) was adopted on 22 November 2023. It sets out the requirements that b…

29/12/23

VAT on directors’ fees and other VAT changes for 2024

The CJEU has held that directors’ fees are not subject to VAT, the temporary VAT rate reductions end on 31 December 2023 and a bill of law extends the…

28/12/23

EU Regulation on artificial intelligence is coming

After two years of negotiation and a final session of trilogue that lasted hours, on 9 December 2023 the European Parliament and the Council of the EU…

26/12/23

CJ confirms Amazon and Luxembourg win in EU State Aid case

On 14 December 2023, the CJ sided with Amazon and Luxembourg and dismissed the European Commission’s appeal against a May 2021 judgment of the General…

26/12/23

Key Takeaways of ALIA’s White Paper on the regulation of tomorrow's media

Electronic media in Luxembourg are currently regulated by the Law of 27 July 1991 on electronic media (“Electronic Media Law”). This law adopts a chan…

26/12/23

Modernisation of Luxembourg insolvency law

Luxembourg insolvency law has recently added new measures and proceedings designed to reorganise the assets or activities of a Luxembourg debtor.

22/12/23

VAT on Directors Fees and State Aid: ECJ is playing Santa for Luxembourg!

The tax year 2023 is ending with a final word on the question of VAT charged on directors fees, and with favorable rulings on State Aid.

22/12/23

Forthcoming new rules on information accompanying transfers of crypto-assets

Regulation (EU) 2015/847 imposes certain rules in the context of transfers of funds, in any currency, where at least one of the payment service provid…

22/12/23

Luxembourg investment tax credit revised to encourage digital, environmental and energy transition

21/12/23

Clarification on draft technical standards for the ELTIF 2.0 regime

On 19 December 2023, ESMA published its final report setting out the draft regulatory technical standards (RTS) for Regulation (EU) 2015/760 on Europe…

19/12/23

ESAs propose amendments to the SFDR RTS

Continuing the theme of frequent changes to the application of the Sustainable Finance Disclosure Regulation (“SFDR”), the European Supervisory Author…

18/12/23

Accelerated application process for ELTIF 2.0

On 15 December 2023, the CSSF announced its updated application questionnaire for ELTIF 2.0. With the updated application questionnaire, the CSSF aims…