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Spotlights
FATF’s positive assessment of Luxembourg’s AML/CFT measures: Enduring commitment advised
The Financial Action Task Force (FATF) commended Luxembourg for its strong anti-money laundering and counter-terrorism financing (AML/CFT)…
Law of 21 July 2023: Modernizing Luxembourg’s Investment Fund toolbox and its impact on RAIF, SIF, SICAR, AIFM & UCI
Luxembourg has modernized its investment fund laws with the enactment of the law of 21 July 2023, effective from 28 July 2023. This…
ESMA launches consultation paper on draft regulatory technical standards (RTS) under the revised ELTIF Regulation
ESMA published a consultation paper on 23 May 2023, outlining draft Regulatory Technical Standards under the revised ELTIF Regulation. The…
CSSF extends submission deadline for SFDR pre-contractual disclosure data collection
The CSSF has recently announced an extension for the initial SFDR data collection exercise on pre-contractual disclosures. Financial Market…
CSSF updates its FAQ for investments in virtual assets: Impact on AIFs
The CSSF updates its FAQ for investments in virtual assets through funds aimed at professional investors, emphasizing risk assessment and…
Recommendations for responsible private funding of Litigation: European Parliament resolution 2022/2130(INL)
The European Parliament calls for greater transparency and regulation of third-party litigation funding (TPLF) in the EU. The resolution…
Reform of arbitration law in Luxembourg
The wide-ranging reform undertaken by the Luxembourg law-maker proposes a coherent regime of rules designed to promote efficient…
European Court of Justice issues clarification on Luxembourg Business Registers and fundamental rights of beneficial owners
Luxembourg’s district court (Tribunal d'arrondissement de et à Luxembourg) submitted two references for a preliminary ruling to the…
Examining the effects of the Law of 15 July 2021 on Luxembourg’s new Code of Civil Procedure
The Law of 15 July 2021 brought significant updates to Luxembourg's civil and commercial justice system. This article explores critical…
Taxonomy: EU Commission publishes FAQ to clarify the content of the disclosures delegated regulation under Article 8
The European Commission published on 6 October 2022 the updated version of the FAQ clarifying the content of the Commission Delegated…
Update of the law of 5 August 2005 on financial collateral arrangements
The Luxembourg Parliament updated the Luxembourg Collateral Law on 7 July 2022 with some precisions and amendments according to the…
LuxSE Euro MTF FastLane admission procedure
Specific types of securities issued by eligible issuers may now benefit from the FastLane Admission for the listing without having to get…
EU updates AML/CFT blacklist and adds five countries
The European Commission has updated its list of countries with deficiencies in their anti-money laundering and counter-terrorist financing regimes. The list, aimed at safeguarding the EU's financial system and internal market, has added the Democratic Republic of the Congo, Gibraltar, Mozambique, Tanzania, and the United Arab Emirates, while deleting Nicaragua, Pakistan, and Zimbabwe.
New law simplifies administrative dissolution for empty shell companies in Luxembourg
The procedure for administrative dissolution without liquidation for a company requires it to have committed a criminal or commercial violation, have no employees and no assets, and be initiated by the Public Prosecutor. If the conditions are met, the company will be dissolved within six months and can be appealed within a one-month window. Exceptions include regulated investment funds and RAIFs, while non-supervised funds may still be eligible if they meet the conditions.
The end of the unrestricted access to the Luxembourg register of beneficial owners – ECJ joined cases C‑37/20 and C‑601/20
Following a decision of the European Court of Justice, access to the Luxembourg register of beneficial owners by the general public was suspended on 22 November 2022.
Clarifying intellectual property ownership: An insight from the Administrative Tribunal decision of 26 July 2023
The Administrative Tribunal emphasized that taxpayers cannot use the economic ownership principle to contradict clear documentation, highlighting that the licensing agreement did not represent a definitive transfer of the IP rights.
0 Comments4 Minutes
Luxembourg IP Box Tribunal’s insight on licensing and article 50bis LITL exemptions
The key factor determining whether payments qualify as royalties for the purpose of Luxembourg IP box rules is the direct link they have to the utilisation of the corresponding intellectual property rights, regardless of frequency or recurrence.
0 Comments3 Minutes
Assessing shareholding value: Implications of the Luxembourg Administrative Court’s ruling on value impairment and taxation
Value impairment should be assessed based on facts and circumstances that existed before the close of the accounting year, even if they were only revealed later but prior to the establishment of the balance sheet.
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Is the Luxembourg Minimum Net Wealth Tax fully in line with constitutional rules?
The Constitutional Court will examine Luxembourg's Minimum Net Wealth Tax. It will have to assess whether its impact on firms with substantial 'financial assets' infringes on constitutional equality norms.
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EU Advocate General advises against Commission’s view on Luxembourg’s tax rulings
In a significant development, A.G. Kokott presented her opinions on 4 May 2023 in Case C-454/21 P and Case C-451/21 P, challenging the European Commission's interpretation of State Aid rules in relation to Luxembourg's tax rulings.
0 Comments2 Minutes
Spotlights
FATF’s positive assessment of Luxembourg’s AML/CFT measures: Enduring commitment advised
The Financial Action Task Force (FATF) commended Luxembourg for its strong anti-money laundering and counter-terrorism financing (AML/CFT)…
Law of 21 July 2023: Modernizing Luxembourg’s Investment Fund toolbox and its impact on RAIF, SIF, SICAR, AIFM & UCI
Luxembourg has modernized its investment fund laws with the enactment of the law of 21 July 2023, effective from 28 July 2023. This…
ESMA launches consultation paper on draft regulatory technical standards (RTS) under the revised ELTIF Regulation
ESMA published a consultation paper on 23 May 2023, outlining draft Regulatory Technical Standards under the revised ELTIF Regulation. The…
CSSF extends submission deadline for SFDR pre-contractual disclosure data collection
The CSSF has recently announced an extension for the initial SFDR data collection exercise on pre-contractual disclosures. Financial Market…
CSSF updates its FAQ for investments in virtual assets: Impact on AIFs
The CSSF updates its FAQ for investments in virtual assets through funds aimed at professional investors, emphasizing risk assessment and…
Latest EU Regulations update: Navigating Sustainability-Related Disclosures and Investments in 2023
As sustainable investing and disclosures continue to gain momentum, the European Union (EU) is taking significant steps to ensure that…
Luxembourg Fund Law Reforms: Key proposed changes to RAIF, SIF, SICAR, AIFM, and UCI Laws
The proposed amendments to the fund laws aim to enhance and update the country's fund-related regulations, while also strengthening the…
SFDR CSSF FAQ Updates: Fund Names, Sustainable Investments & EPM Techniques
The SFDR requires FMPs to provide transparent information on the sustainability of their financial products. The CSSF has recently released…
