News & Articles

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…

25/11/22

ECJ judgment invalidates the provision of AMLD V allowing access to the beneficial owner registers by the gene…

The European Court of Justice (“ECJ”) rendered a decision on 22 November 2022[1] in response to questions raised by the Luxembourg district court in r…

24/11/22

AML V & register of beneficial owners: a public access feature found to be invalid by the CJEU

On 22 november 2022, the european court of justice ruled that the “public access” feature of the luxembourg register of beneficial owners would be inv…

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…

21/11/22

ESG in the banking sector - EBA Report on the integration of ESG risks into the SREP

On 24 october 2022, the European banking authority (“eba”) published its report on the integration of esg risks in the supervision of investment firms…

15/11/22

French cross-border workers will be allowed 34 teleworking days per year from 1 January 2023

It's a done deal! From 1 January 2023, French residents employed by companies located in Luxembourg (and vice versa) will be allowed to telework for 3…

14/11/22

ATAD III: where is it heading to?

On 8 September 2022 the EU Committee on Economic and Monetary Affairs of the European Parliament (EP) published new amendments to the draft Directive …

11/11/22

Luxembourg temporarily reduces VAT rates

With the Luxembourg Parliament’s adoption of bill of law no. 8083 published on 26 October 2022, a 1% reduction of all VAT rates (except the super-redu…

10/11/22

EBA report on incorporating environmental, social and governance risks in the supervision of investment firms

On 24 October 2022, the European Banking Authority (“EBA”) released a report on incorporating environmental, social and governance (“ESG”) risks in th…

08/11/22

EU top court sides with Fiat in Luxembourg State aid case

On 8 November 2022, the Court of Justice of the European Union (“CJEU”) set aside the EU General Court’s judgment of 2019 and annulled the Commission’…

07/11/22

The act of 28 October 2022 on the procedure of administrative dissolution without liquidation comes into effec…

The Luxembourg act of 28 October 2022 introducing the procedure of administrative dissolution without liquidation (procédure de dissolution administra…

03/11/22

Luxembourg budget bill for 2023

On 12 October 2022, the Luxembourg Government has submitted the budget bill for 2023 n° 8080 for approval to the Chamber of Deputies (the 2023 Budget …

01/11/22

Digital Markets Act (DMA) comes into force on 1 November 2022

The Digital Market Act (DMA) was published in the Official Journal of the European Union on 12 October, and it will enter into force on 1 November. La…

28/10/22

Draft law on transparent and predictable working conditions: what practical implications for employers?

Following the proclamation of the European Social Rights Framework by the EU institutions in November 2017, Directive (EU) 2019/1152 on transparent an…

27/10/22

Covid-19: measures to combat the pandemic scaled down once again

Based on the encouraging situation in the Grand Duchy of Luxembourg, with a highly infectious but not very pathogenic variant and a largely immunised …

26/10/22

Introduction of a procedure of administrative dissolution without liquidation

Bill n°6539B creating a procedure for administrative dissolution without liquidation, was adopted on October 18, 2022 by the Luxembourg Parliament. Th…

24/10/22

Insurance regulatory update – New CAA Circular Letter 22/17 on notifications in case of cooperation requests b…

On 13 September 2022, the Commissariat aux Assurances (“CAA”) issuedthe Circular Letter 22/17 on notifications in case of cooperation requests by a fo…

20/10/22

Clarification by the CSSF regarding eligible entities for the opening of cash accounts in relation to Luxembou…