From 1 January 2020, issuers on EU regulated markets falling under the scope of the Transparency Directive, will have to prepare annual financial reports in accordance with the new...

US private fund managers ("USFM") engage with a Luxembourg Host AIFM to secure an EU marketing passport to market their Luxembourg Alternative Investment Fund ("AIF") EU wide to professional investors.

As environmental, social and governance (ESG) principles become increasingly mainstream and with asset managers under increasing pressure to embrace the trend, ...

Semi-liquid alternative investment funds face a critical challenge: balancing illiquid asset investments with investor liquidity needs. When redemption requests surge beyond certain thresholds, fund managers can deploy various restriction mechanisms—but understanding the nuanced differences between redemption caps, gates, and their variants becomes essential under the new AIFMD II framework. The choice between hard caps, soft caps, and gates carries significant implications for regulatory compliance,

On 29 June 2021, the Luxembourg legislator approved amendments to the legal framework that alleviate the auditing obligations for certain SIS.

EU policymakers are entering a phase of recalibration, simplifying sustainability rules while sharpening the EU competitiveness and industrial agenda.

On 1 October 2021, the Central Bank of Ireland ("Central Bank") published the 34th edition of its UCITS Q&A which include new Q&As on the implementation of the European Securities...

On 3 April 2020, ESMA finally issued its long-awaited guidelines on performance fees in UCITS and certain types of AIFs (the "Guidelines"). If adopted by the CSSF, certain provisions in the...

On 9 April 2021 the CSSF published a new Circular 21/769 on "Governance and security requirements for supervised entities to perform tasks or activities through Telework" ("Telework Circular").

On 9 April 2021 the CSSF published a new Circular 21/769 on "Governance and security requirements for supervised entities to perform tasks or activities through Telework" ("Telework Circular").

A 12-month grace period has been announced by the CSSF for the application of the European Single Electronic Format (ESEF) requirements in relation to annual financial reports.

Luxembourg has strengthened its enforcement framework for the Register of Beneficial Owners and Trade and Companies Register, granting the Luxembourg Business Registers new administrative powers to monitor compliance and impose sanctions. Starting September 2026, entities with incomplete or inaccurate filings may face progressive penalties including daily fines, administrative deregistration, and potential dissolution.

European institutional investors increasingly favor Article 8 funds under SFDR, which promote environmental and social characteristics alongside good governance practices. US fund managers face strategic decisions when entering the EU market, weighing the benefits of Article 8 classification against operational constraints and investor preferences. The regulatory landscape offers flexibility in ESG implementation, though upcoming SFDR 2.0 reforms will reshape these disclosure requirements by late 2027.

Semi-liquid alternative investment funds face inherent tensions between illiquid assets and investor liquidity demands, requiring sophisticated redemption management tools. Under AIFMD II, EU-authorized private fund managers must implement pre-determined liquidity management tools, but not all redemption restrictions qualify equally.

During the past 10 years, the banking and asset management sectors have gone through a restructuring phase, following the 2008 financial crisis which prompted major banking groups to redefine their strategies.

Clients of wealth managers are becoming increasingly mobile, with their assets spread over various countries.

An alternative performance measure is a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified...

For a few years now the global tax system has been in a period of significant change.

With the adoption of IFRS 3 Business Combinations in 2004, the International Accounting Standards Board (IASB) abolished the amortization of goodwill

Parent (M)FHCs in a Member State, EU parent (M)FHCs and other certain parent (M)FHCs established in Member States participating in the Single Supervisory Mechanism and which are part of a significant...