News & Articles

29/12/21

Luxembourg budget bill for 2022

On 16 December 2021 the Luxembourg budget bill for 2022 (n°7878) has been adopted by the Luxembourg Parliament (the Law). In general, the Law aim…

27/12/21

New CSSF fees

On 22 December 2021, a new Grand Ducal Regulation on the fees levied by the CSSF was published in the Mémorial A. It applies as from 1st Jan…

24/12/21

EU Commission issues draft directives on substance requirements and minimum taxation

EU Commission issues draft directives on substance requirements and minimum taxation

24/12/21

EU Commission presents proposals for directives against shell entities and ensuring a global minimum level of …

On 22 December 2021 the European Commission (hereinafter: ‘EC’) presented two legislative proposals for EU directives, one to introduce a global minim…

24/12/21

The European Telecommunications Code has now been implemented

The law of 17 December 2021, which implements Directive (EU) 2018/1972 establishing the European Electronic Communications Code (the “EECC”)…

23/12/21

Unshell Directive Proposal: the poisoned Christmas gift of the European Commission

23/12/21

New CSSF circulars reforming the Long Form Report

On 22 December 2021, the Commission de Surveillance du Secteur Financier (“CSSF”) published three new circulars dated 17 December 2021 effectively ref…

22/12/21

Holding of virtual meetings for companies and other legal persons possible through 31 December 2022

In the current context associated with the Coronavirus pandemic (COVID-19), by a law of  17 December 2021, published in the Mémorial A …

22/12/21

Law amending the Luxembourg criminal law framework in relation to money laundering

On 20 December 2021, the law of 17 December 2021 (the “Law”) was published in the Official Journal of the Grand-Duchy of Luxembourg

22/12/21

Luxembourg to introduce a national mechanism for the screening of foreign direct investments

Luxembourg intends to introduce a national mechanism for the ex-ante screening of each foreign direct investment (“FDI”) into critical activities. For…

21/12/21

Extension of the possibility to organise virtual board and shareholder meetings until 31 December 2022 and of …

The Act of 17 December 2021 has extended the transitional measures provided for by the Act of 23 September 2020 until 31 December 2022

16/12/21

Data protection notices after the Whatsapp case: what's the message?

A few months ago, the Irish Data Protection Commission imposed an administrative fine of EUR 225 million on WhatsApp Ireland Limited, declaring the co…

15/12/21

Regulatory update: CSSF guidance on virtual assets

On 29 November 2021, the CSSF provided guidance to the industry with respect to virtual assets, by publishing a Communiqué (the “Statement”)…

14/12/21

Countdown to the entry into force of the Luxembourg Reverse Hybrid Rule

The countdown has started. As from 1 January 2022, the last anti-hybrid mismatch provision related to reverse hybrid rule will enter into force. Under…

07/12/21

Luxembourg Court of Appeal finds that 50% shareholders are entitled to initiate a minority action against dire…

In a judgment dated 27 October 2021, the Seventh Chamber of the Luxembourg Court of Appeal declared admissible a minority action based on article 444-…

07/12/21

Capital Markets Union: Commission Adopts Package of Measures to Ensure Better Data Access and Revamped Investm…

On 25 November 2021 the European Commission adopted a package of measures to ensure better data access and revamped investment rules. The adopted pack…

07/12/21

CSSF communiqués of 29 November and 2 December 2021 - prepare for a green holiday season

The EU Regulation on the establishment of a framework to facilitate sustainable investment (the "Taxonomy Regulation") was published in the Official J…

07/12/21

Update on SFDR/Taxonomy for Luxembourg funds

The main disclosure requirements under the Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR) are…

03/12/21

Sustainable Finance update (asset management): CSSF announces fast track procedure for Taxonomy Regulation com…

The CSSF announced in its communication (available here) published on 2 December 2021 that it has put in place a fast track procedure to facilitate co…

03/12/21

CSSF guidance on virtual assets

On 29 November 2021, the Commission de Surveillance du Secteur Financier (the “CSSF”), the Luxembourg financial supervisory authority, publi…