Under Directive 2004/39/EC on Markets in Financial Instruments (MiFID) a contract considered as a financial instrument may give rise to authorisations and other obligations.

The Law dated July 18th 2014 was published in the Official Gazette on July 25th 2014 (Mémorial A n°133 p. 2134).

The entry into force, on 2 March 2025, of the law of 17 February 2025 transposing in the Grand Duchy of Luxembourg Directive (EU) 2019/2121 of the European Parliament and the Council of 27 November 2019 on cross-border conversions, mergers and divisions entails important changes in the Luxembourg legal system...

A number of questions were raised by the referring court on prospectus content and publication.

On February 14tth 2013 the EU Commission adopted a proposal for a directive implementing enhanced cooperation in the area of financial transaction tax.

Following the entry into force of the Luxembourg law of 7 August 2023 on business continuation and modernisation of bankruptcy law (the "Law") on 1 November 2023, the Luxembourg courts have handed down several decisions clarifying the scope of application of judicial reorganisation proceedings.

The OECD released its public discussion draft on Action Point 4 of the Action Plan on Base Erosion and Profit Shifting (hereafter "BEPS") concerning interest deductions and other financial payments.

As part of its strategy to foster competitiveness and innovation across the European Union, the European Commission has launched a public consultation on the creation of a "28th Regime", being a single, harmonised set of company law rules ...

Following on from the advice and the opinion of ESMA on investment-based crowdfunding in December 2014, the European Banking Authority issued its opinion on lending based crowdfunding in February 2015.

On February 18th 2015, the European Commission set the wheels in motion for a fully functioning Capital Markets Union, through the launch of its green paper Building a Capital Markets Union.

The accounting reform continues: the law of July 30th 2013 (the "New Law") reorganises the Commission for Accounting Standards (Commission des Normes Comptables - CNC) and modifies certain statutory provisions on annual accounts and consolidated accounts.

In case the Investmentvermögen avails itself of the reduced treaty rates as regards dividends and interest payments, the investors lose their right to claim these treaty benefits.

In accordance with article 135 (1) (g) of Directive 2006/112/EC Member States must exempt from VAT "the management of special investment funds as defined by Member States".

On December 1st 2014 the European Securities and Markets Authority ("ESMA") issued a Consultation Paper on Guidelines on asset segregation under AIFMD.

ESMA published on February 2nd 2014 an FAQ Document on the practical application of the Directive 2011/61/EU on alternative investment fund managers.

The European Parliament vote on the final text of the fourth AML Directive is imminent. The draft Fourth AMLD is based on the revised FATF recommendations (February 2012), but goes beyond.

On 26 February 2025 the European Commission published a new package of proposals to simplify and reduce the reporting requirements under Corporate Sustainability Reporting Directive (CSRD), the EU Taxonomy (EUT), and the Corporate Sustainability Due Diligence Directive (CSDDD), the Omnibus package.

The amendments to the law of 22 March 2004 on securitisation (the "Securitisation Law") proposed by the much awaited draft law 7825 (the "Draft Law") are an encouraging development for investors...

On October 15th, 2014 the Minister for Finance announced the Luxembourg Budget 2015.

On 24 July 2025, Draft Law No 8590 was submitted to the Luxembourg Parliament (Chambre des Députés) intending to update and render more attractive the tax regime for carried interest granted to managers of alternative investment funds.