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Update on SFDR/Taxonomy for Luxembourg funds

Update on SFDR/Taxonomy for Luxembourg funds
07/12/2021

The main disclosure requirements under the Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR) are applicable since 10 March 2021. Draft Regulatory Technical Standards (RTS) complementing 

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

CSSF communiqués of 29 November and 2 December 2021 - prepare for a green holiday season
07/12/2021

The EU Regulation on the establishment of a framework to facilitate sustainable investment (the "Taxonomy Regulation") was published in the Official Journal on 22 June 2020.

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Capital Markets Union: Commission Adopts Package of Measures to Ensure Better Data Access and Revamped Investment Rules under MiFIR

Capital Markets Union: Commission Adopts Package of Measures to Ensure Better Data Access and Revamped Investment Rules under MiFIR
07/12/2021

On 25 November 2021 the European Commission adopted a package of measures to ensure better data access and revamped investment rules. The adopted package of measures also contains a proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 600/2014 (“MiFIR”)

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New CSSF taxonomy fast track procedure

New CSSF taxonomy fast track procedure
06/12/2021

On 2 December 2021, a CSSF press release on regulatory requirements and fast track procedure in relation to Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investments (the so called “Taxonomy Regulation” “TR”)

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CSSF guidance on virtual assets

CSSF guidance on virtual assets
03/12/2021

On 29 November 2021, the Commission de Surveillance du Secteur Financier (the “CSSF”), the Luxembourg financial supervisory authority, published its guidance on virtual assets (the “Guidance”) along with frequently asked questions (“FAQ”).

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Sustainable Finance update (asset management): CSSF announces fast track procedure for Taxonomy Regulation compliance by 1 January 2022

Sustainable Finance update (asset management): CSSF announces fast track procedure for Taxonomy Regulation compliance by 1 January 2022
03/12/2021

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 compliance with the taxonomy-related disclosure requirements of articles 5, 6 and 7 of the Taxonomy Regulation

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Virtual assets: CSSF guidance and FAQs

Virtual assets: CSSF guidance and FAQs
02/12/2021

Further to its recent communications on financial innovation, the Commission de Surveillance du Secteur Financier (the « CSSF ») has just published highly interesting guidance on virtual assets with a focus on the investment fund sector

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Commission’s proposal for a Regulation amending the ELTIF Regulation

Commission’s proposal for a Regulation amending the ELTIF Regulation
02/12/2021

On 25 November 2021, the European Commission published a proposal for a regulation amending the Regulation (EU) 2015/760 on European Long Term Investment Funds (“ELTIF”) aiming at making the ELTIF regime more attractive. 

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Strengthening the integration and efficiency of capital markets to support economic growth

Strengthening the integration and efficiency of capital markets to support economic growth
26/11/2021

Today, on 25 November 2021, the EU Commission published a package of legislative proposals. With the proposed measures, the EU Commission is delivering on a number of action points identified under its Capital Markets Union (CMU) 2.0 Action Plan, published in September 2020.

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Assessment of predicate tax offences in an AML/CTF context: The asset management industry should get prepared for CSSF inspections

Assessment of predicate tax offences in an AML/CTF context: The asset management industry should get prepared for CSSF inspections
18/11/2021

The new provisions introduced by Circular 17/650, as amended through Circular 20/744, impact the AML/CFT compliance obligations of the asset management industry.

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