News & Articles

11/01/23

Remote customer onboarding solutions - credit and financial institutions need to adjust their solutions, polic…

On 22 November 2022, the European Banking Authority (EBA) published its final report on the guidelines on the use of Remote Customer Onboarding Soluti…

11/01/23

ESMA Peer Review on relocation to the EU in the context of the UK’s withdrawal from the EU

09/01/23

Unified Patent Court: final stretch!

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 …

03/01/23

Luxembourg minimum social wage increase from 1 January 2023

The 3.2% increase in the minimum social wage became official on 1 January 2023.

02/01/23

The Property Tax Reform Bill

To clamp down on speculation and the growth of property prices, Bill No. 8082 ("Property Bill") was filed with the Luxembourg Parliament on 10 October…

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…

24/12/22

Luxembourg 2023 budget law passed – focus on tax measures

The Luxembourg government filed three new bills in the week of 10 October 2022 concerning:the 2023 budget, housing supply reform, a temporary reductio…

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…

23/12/22

Pillar Two: OECD publishes safe harbour rules and opens consultation on tax compliance and certainty

On 20 December 2022, the OECD released new documents relating to the global minimum taxation rules (GloBE rules, which form part of the Pillar Two ini…

22/12/22

New proposal to amend EU directive on administrative cooperation in the field of taxation (DAC 8)

21/12/22

Pillar One: draft multilateral convention provisions for removing digital services taxes

On 20 December 2022, the OECD released a public consultation document on the Pillar One Multilateral Convention (MLC) provisions for (i) removing digi…

20/12/22

CJEU ruling of 8 December 2022: the obligation of lawyers to notify other intermediaries pursuant to DAC6 rule…

In a judgment dated 8 December 2022 (Case C-694/20), the Grand Chamber of the Court of Justice of the European Union (“CJEU”) ruled that the obligatio…

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…

13/12/22

DAC6 - Obligation for lawyers to notify other intermediaries judged invalid by the CJUE (C-694/20)

The Court of Justice of the European Union rendered its judgment in Case C-694/20 (Orde van Vlaamse Balies and Others) regarding the compatibility of …

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