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New CSSF fees

New CSSF fees
27/12/2021

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 January 2022.

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New CSSF circulars reforming the Long Form Report

New CSSF circulars reforming the Long Form Report
23/12/2021

On 22 December 2021, the Commission de Surveillance du Secteur Financier (“CSSF”) published three new circulars dated 17 December 2021 effectively reforming the Long Form Report:

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

Luxembourg to introduce a national mechanism for the screening of foreign direct investments
22/12/2021

Luxembourg intends to introduce a national mechanism for the ex-ante screening of each foreign direct investment (“FDI”) into critical activities. Foreign, direct and controlling investments into critical infrastructure (energy, transport, water, public health) and into critical technologies

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

Law amending the Luxembourg criminal law framework in relation to money laundering
22/12/2021

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

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Regulatory update: CSSF guidance on virtual assets

Regulatory update: CSSF guidance on virtual assets
15/12/2021

On 29 November 2021, the CSSF provided guidance to the industry with respect to virtual assets, by publishing a Communiqué (the “Statement”) and frequently asked questions for undertakings for collective investments 

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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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