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Financial law


CSSF 2020 Survey related to the Fight against Money Laundering and Terrorist Financing

CSSF 2020 Survey related to the Fight against Money Laundering and Terrorist Financing
25/01/2021

On 24 December 2020, the CSSF announced that it will roll-out its annual AML online survey for the year 2020 (the “Survey”) on 15 February 2021.

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Anti-money laundering and counter terrorist financing – mandatory survey due in March 2021

Anti-money laundering and counter terrorist financing – mandatory survey due in March 2021
22/01/2021

We would like to remind you that on 15 February 2021, the CSSF will launch its annual online survey on the fight against money laundering and terrorist financing for the year 2020 (the “AML/CFT Survey”).

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European Single Electronic Format

European Single Electronic Format
21/01/2021

The Luxembourg law of 11 January 2008 on transparency requirements for issuers (Transparency Law), supplemented by the Grand-Ducal Regulation of 11 January 2008 on transparency requirements for issuers 

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ESG update: A reduced subscription tax rate for UCIs investing in sustainable economic activities

ESG update: A reduced subscription tax rate for UCIs investing in sustainable economic activities
11/01/2021

On 23 December 2020, the Luxembourg Budget Law was published in the Mémorial (“the Law”). It contains some tax measures aiming at promoting investment in sustainable economic activities and is part of a more extensive sustainable finance strategy for Luxembourg as an international financial centre.

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CSSF fast-track procedure for fund managers to comply with SFDR disclosure rules

CSSF fast-track procedure for fund managers to comply with SFDR disclosure rules
04/01/2021

The Commission de Surveillance du Secteur Financier (the CSSF), has issued a communication (the CSSF Communication) to inform investment fund managers (IFMs) of Luxembourg undertakings for collective investment in transferable securities (UCITS) and alternative investment funds (AIFs)

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Brexit: CSSF communication on the equivalence of UK firms for the third country national regime under MiFIR

Brexit: CSSF communication on the equivalence of UK firms for the third country national regime under MiFIR
30/12/2020

Further to the long-awaited outcome of the Brexit negotiations on 24 December 2020, the Luxembourg financial supervisory authority – the Commission de Surveillance du Secteur Financier (“CSSF”) 

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Luxembourg - ESG update

Luxembourg - ESG update
22/12/2020

Creation of a new CSSF fast track procedure for fund managers when implementing EU ESG rules

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With the implementation of SFDR approaching, the CSSF sets-up a fast track procedure

With the implementation of SFDR approaching, the CSSF sets-up a fast track procedure
22/12/2020

With less less than 3 months to go until the Sustainable Finance Disclosure Regulation (“SFDR”) comes into force in the EU (on 10 March 2021), the Luxembourg regulator (the « CSSF») published on 16 December 2020 a communication detailing the new regulatory requirements

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CSSF press release relating to central administration internal governance and risk management for investment firms and credit institutions

CSSF press release relating to central administration internal governance and risk management for investment firms and credit institutions
21/12/2020

The Commission de Surveillance du Secteur Financier (the « CSSF») published on 7 December 2020 the following circular letters relating to central administration, internal governance and risk management which will come into force on 1st January 2021

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ESMA Guidelines on performance fees in UCITS and certain types of AIFs

ESMA Guidelines on performance fees in UCITS and certain types of AIFs
17/12/2020

On 3 April 2020, ESMA eventually released its much-anticipated final report on guidelines on performance fees in UCITS and certain types of AIFs, including the guidelines themselves (the “Guidelines”).

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