News & Articles

07/10/22

Crowdfunding regulation | New ESMA Q&As

On 23 September 2022, ESMA updated its Questions and Answers ("Q&As") in relation to Regulation (EU) 2020/1503 of 7 October 2020 on European crowd…

07/10/22

Updated EU list of non-cooperative jurisdictions for tax purposes: Three jurisdictions added

On 4 october 2022, the council revised the eu list of non-cooperative jurisdictions for tax purposes (the “eu blacklist”) and added the bahamas, angui…

07/10/22

ESG in the banking and insurance sectors – New draft RTS on the disclosure of fossil gas and nuclear energy in…

On 30 September 2022, the three European Supervisory Authorities (the “ESAs”) submitted their Final Report on draft Regulatory Technical Standards (“R…

06/10/22

New CSSF FAQ on CBDF – Guidance on Marketing Communications

On 20 September 2022, the CSSF published a new CSSF FAQ on CBDF Marketing Communications (“CSSF FAQ”), the objective of which is to provide additional…

05/10/22

The Court of Justice of the European Union rules that a written contract may qualify as an invoice for VAT pur…

For those purposes, the agreement has to contain all the information necessary for control purposes by the tax authorities.

03/10/22

Energy and environmental challenges for undertakings: available State aid

On 15 July 2022, in response to the rise in energy prices caused by the war in Ukraine on the one hand, and to the push for stronger environmental pro…

29/09/22

Luxembourg agrees temporary VAT cut – here's what you need to know

In an effort to reduce the impact of inflation on households and businesses, the Luxembourg government met with trade unions on 28 September to agree …

29/09/22

New obligations for employers on the horizon

On 20 June 2019, the European Parliament and the Council of the European Union approved Directive (EU) 2019/1152 on transparent and predictable workin…

28/09/22

Cross-border distribution of investment funds – New CSSF FAQ

On 20 September 2022, the CSSF published a new FAQ: CBDF - Guidance on marketing communications.

26/09/22

Disclosure letters to share purchase agreements - Basics of the procedure and outline of Luxembourg market pra…

A sale of shares and the related share purchase agreement commonly provide for warranties given by the sellers to the buyers. The warranties are state…

23/09/22

ESG in the banking sector - CSSF survey on sustainable finance

The main objective of the survey was to assess the general public’s knowledge and understanding of sustainable finance and gauge the degree of interes…

22/09/22

EU proposes ban on products made with forced labour

The EU Commission’s proposal to ban products made with forced labour from the Union market imposes new challenging compliance and due diligence obliga…

22/09/22

CSSF FAQ on Cross Border Distribution of Funds: Guidance on Marketing Communications

21/09/22

War in Ukraine: full suspension of the EU-Russia Visa Facilitation Agreement

On 9 September 2022, the Council of the European Union adopted Decision (EU) No 2022/1500 suspending the application of all provisions of the agreemen…

19/09/22

Modernization of the law 5 August 2005 on financial collateral arrangements

The amended law of 5 August 2005 on financial collateral arrangements has long been recognized in Europe as offering strong legal certainty and protec…

12/09/22

Sustainable Finance update (asset management): CSSF communication on SFDR RTS confirmation letter

Further to our newsflash of 29 July 2022 in connection with the CSSF's communication of 27 July 2022 in relation to SFDR and the upcoming entry into f…

07/09/22

The CSSF confirms the procedure for the implementation of the SFDR RTS

Following the publication of the Delegated Regulation (EU) 2022/1288 and the confirmation of the application date of the SFDR Level 2 provisions (or “…

26/08/22

ESG In The Insurance Sector - Update On Climate Change Materiality Assessments And Climate Change Scenarios In…

The Application Guidance follows up on the Opinion on the supervision of the use of climate change risk scenarios in the ORSA (the “Opinion”) that EIO…

25/08/22

CAA specifications regarding the notification regime for outsourcings of significant or critical operational a…

On 19 August 2022, the Commissariat aux Assurances (the “CAA”) published a new Circular-Letter 22/16 (the “CL”) on outsourcing of significan…

23/08/22

Update on outsourcing of important or critical activities in the insurance sector

The Commissariat aux Assurances published a circular letter which clarifies the regulatory equipments that are applicable to the outsourcing of critic…