News & Articles

20/01/22

CSSF guidance on virtual assets - Recent developments in the financial sector

On 29 November 2021, the Commission de surveillance du Secteur Financier (the “CSSF”) published a Communiqué entitled “CSSF guidance on virtual assets…

18/01/22

ATAD 3: European Commission's proposal targeting shell companies

On 18 May 2021, the European Commission published a communication which contained the EU Tax Policy Agenda and the actions to adopt in 2021 and in the…

18/01/22

Proposed changes to the Luxembourg financial collateral law

On 20 December 2021, a draft law No. 7933 (the "Draft Law") was lodged with the Luxembourg Chamber of Deputies. While the main aim of the Draft Law is…

17/01/22

CSSF introduces new reporting requirements

On 22 December 2021, the Luxembourg Financial Sector Supervisory Authority (CSSF) published three circular letters, clarifying existing reporting obli…

13/01/22

CovidCheck for businesses as of 15 January 2022

The COVID-19 Bill n°7924 introduced in the Chamber of Deputies on 4th December 2021 and voted on 16th December 2021 implement the mandatory "3G" (vacc…

12/01/22

Unilateral termination of agreements - recent Luxembourg case law

On 2 July 2020, the Luxembourg court of appeal rendered a decision relating to the consequences of the non-fulfilment of a condition precedent (“condi…

11/01/22

European Electronic Communication Code adopted

The Law of 17 December 2021 on electronic communications networks and services  (the "Law") was published on 22 December 2021 and came …

10/01/22

International sanctions update – Is the EU getting tougher on sanctions?

On 13 December 2021, the Council of the EU adopted restrictive measures against the Wagner group, a Russia-based unincorporated private military entit…

06/01/22

CSSF Q&A on virtual assets - second part for credit institutions

On 4 January 2022, the CSSF supplemented its questions and answers (the “Q&As”) on virtual assets (the “VAs”), which were published on 23 December…

04/01/22

Mandatory COVID Checks at the Workplace from 15 January 2022

As announced by the Luxembourg government, each employer in Luxembourg will be obliged to apply “3G” COVID Checks at the offi…

03/01/22

General insolvency filing obligations of Luxembourg companies’ managers

This memorandum gives a short summary on the bankruptcy petition and general insolvency filing obligations of the management body of Luxembourg compan…

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