News & Articles

12/03/24

Adoption of MiFID 3 and MiFIR 2 to enhance transparency on markets in financial instruments

On 8 March 2024, Regulation 2024/791 amending Regulation (EU) No 600/2014 (MiFIR) and Directive 2024/790 amending Directive 2014/65/EU (MiFID 2) on ma…

12/03/24

Launch of coordinated enforcement action on the right of access

On 28 February, the European Data Protection Board (EDPB) launched its Coordinated Enforcement Framework (CEF) action for 2024. This year, the Luxembo…

11/03/24

New EU regulation of loan origination by funds

On 26 February 2024, the EU Council adopted new rules amending the EU Alternative Investment Fund Managers Directive (AIFMD II). In this blog, our Fin…

05/03/24

EU adopts 13th package of restrictive measures against Russia

On 23 February 2024, the Council of the EU adopted its thirteenth package of restrictive measures against Russia, which supplements those discussed in…

01/03/24

Understanding AIFMD II: loan origination

The long-awaited amendments to directive, (the AIFMD II[2]) were adopted by the European Council on 26 February 2024 and will enter into force 20 days…

01/03/24

CAA Information Note on concept of insurance intermediary in group insurance contracts

On 24 January 2024, the Commissariat aux Assurances (CAA) published Information Note 24/1 on the concept of insurance intermediary in the context of g…

29/02/24

Amendments to Directive 2011/61/EU on alternative investment fund managers have been formally approved

On 26 February 2024, the Council of the European Union officially approved amendments to Directive 2011/61/EU on alternative investment fund managers …

27/02/24

The Bahamas, Belize, the Seychelles & the Turks and Caicos Islands removed from the EU list of non-coopera…

16/02/24

CSSF publishes updated money-laundering/terrorist financing risk assessment for the private banking sector

On 7 February 2024, the Luxembourg supervisory authority for the financial sector (Commission de Surveillance du Secteur Financier, “CSSF”) released t…

15/02/24

Draft law introducing measures for reviving building construction sector as from 2024 presented to Parliament

On 9 February 2024, a draft law introducing various measures to revive the building construction sector was published (the “Draft Law”). It follows an…

14/02/24

The EU Parliament and Council reached an agreement on ESG rating

On 5 February 2024, the European Parliament (the Parliament) and the Council of the European Union (the Council) reached a provisional agreement on th…

12/02/24

ESMA reports on impact-washing concerns around funds focused on the United Nations Sustainable Development Goa…

On 1 February 2024, the European Securities and Markets Authority (ESMA) published an article on the efficiency of funds focused on the United Nations…

09/02/24

The future of avoidance actions in Luxembourg: the potential impact of the proposed EU Directive on harmonisat…

While there is a certain alignment between the proposed EU Directive on harmonisation of insolvency law and Luxembourg law, Luxembourg legislation wil…

07/02/24

Transparency Law | CSSF enforcement priorities

On 8 January 2024, the CSSF published a press release for the attention of issuers of securities subject to the law of 11 January 2008 on transparency…

31/01/24

On repeat but louder: the ACM’s 2024 priorities

On 23 January 2024, the Authority for Consumers and Markets (ACM) announced its 2024 priorities. They are the same for the fourth consecutive year (se…

30/01/24

Financial services contracts concluded at a distance | New directive enters into force

The use of digital tools by consumers has been increasing at a rapid pace in recent years, including for the conclusion of financial services. It is i…

30/01/24

Meal voucher reform: in force imminently

The revamp of meal vouchers in Luxembourg will have major repercussions for businesses. The aim is to modernise the meal voucher scheme and make it mo…

29/01/24

DORA: first set of final level 2 rules for ICT and third-party risk management and incident reporting framewor…

The ESAs have published the first set of final draft technical standards under DORA aimed at enhancing the digital operational resilience of the EU fi…

26/01/24

CAA clarifications on the notion of insurance intermediary in the context of group insurance contracts

On 24 January 2024, the Commissariat aux Assurances (the “CAA”) released an information note regarding the notion of insurance intermediary in the con…

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 …