Regulatory Watch

Update on the 5AMLD and the Central Register on Beneficial Ownership

Central Bank of Ireland publishes second edition of Investment Firm Regulations 2017

BaFin approves later publication of transactions

FSMA publishes a communication on "FINPRO" application intended for the electronic notification of KIDs

Irish Stock Exchange publishes updated Code of Listing Requirements and Procedures for investment funds

11 amendments to the Bill 7128

5 amendments to the omnibus Bill 7024

Multilateral Agreement on Exchange of Financial Account Information

Amending RESA Regulation published in the Memorial A

SGX consults on quarterly reporting

New data protection rules in the Fiscal Code from May 2018

BaFin published a Guidance pursuant to sec. 329 of the German Capital Investment Act 

Irish regulator streamlines risk management reporting for UCITS funds

FSMA releases FAQ with regard to certain matters regarding takeover bids and market abuse regulations

BaFin explains pan-European instrument for strengthening consumer protection

SGX consults on Listing Rule changes consequential to Code of Corporate Governance review

The AMF’s guide on the funding of research within MiFID II

BMF publishes circular on the treatment of donations

First market reports under MiFID II

BaFin published a national Q&A on CRR requirements for the monitoring of real estate collateral

AMF’s 5-year strategic plan

Equivalence between certain British requirements on the suitable competences and the certified French examination

Commission communicates on the direct application of GDPR as of 25 May 2018

Notice regarding indexation of tax scales - Tax year 2019

IFS2020 Action Plan for 2018

Complex and non-complex financial instruments classification

Amendment to the draft bill of law of 7 December 2017 regarding the reform of corporate law

Irish Government Publishes Data Protection Bill 2018

CySEC issues a circular on assessment of reports on prevention of ML/TF

ESMA publishes the German version of the Guidelines for the target market

Cybersecurity Bill passed by Parliament

Federal Ministry of Finance has updated existing rules for notification of foreign relationships

AMF study on the fees charged by UCITS distributed in France

Upcoming change to AIF rulebook for Loan originating Qualifying Investor AIFs

Large number of provisions will impact the tax system

Financial investment brokers under BaFin’s supervision in the future?

Double Taxation Treaties (updated February 2018)

Update to Minimum Competency Code 2017 and Minimum Competency Regulations 2017 - Questions and Answers

BaFin started a consultation on the amendment of the Notification Regulation

MAS Encourages Financial Institutions to Use Technology to On-board Customers More Efficiently

Commission amending Regulation published in the OJEU

Communication on the publication of a new AML/CFT section on NBB website

Commission issues notices to stakeholders on consequences of Brexit for financial sector

Further guidance provided

4AMLD Transposition Law enters into force on 18 February 2018

GFSC issues Financial Resources Requirements Rules for the Fiduciary Sector

Update to guide on filing a FATCA return

BaFin publishes an interpretation guidance on the Remuneration Ordinance for Institutions

Singapore Budget 2018

Circular 2018/C/26 concerning the value to be taken into account when allocating or paying movable income in the form of securities

BaFin publishes an advisory letter on the classification of tokens and cryptocurrencies

New EU corporate tax plan

Guidelines on the management body of market operators and data reporting services providers

MAS consults on Regulations to Require OTC Derivatives to be Traded on Organised Markets

Chamber of Commerce and IRE issue opinions on Bills 7216 (Trust Register) and 7217 (REBECO)

AMF’s legal analysis of the offer of cryptocurrency derivatives

Summary of responses to the AMF consultation on initial coin offerings

BaFin consultation on sample templates for cost clauses for open-ended retail AIFs and real estate funds

CySEC issues a Circular on best practices and weaknesses identified during ML/TF focused inspections

Brochure to apply for an authorization as a portfolio management and investment advice company 

Bill n°7250 transposing the EU Regulation 2016/679 relating to protection of private data

Amendments to IFRS 2 published in the OJEU

European Commission publishes draft Article 50 Withdrawal Agreement

Singapore introduces new transfer pricing rules and guidelines

Guidance for Completion of the Anti-Money Laundering, Countering the Financing of Terrorism and Financial Sanctions: Risk Evaluation Questionnaire 2018

Belgian Constitutional Court annuls Fairness Tax

Hamburg Ministry of Finance on the income tax treatment of trading in bitcoins

Approval by the EU Parliament

Consolidated list of jurisdictions subject to CRS for the year 2017

Guidelines on uniform disclosures as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds

Commission action plan on financing sustainable growth

Central Bank of Ireland announces Thematic Inspection of UCITS Performance Fees

Commission welcomes adoption of far-reaching new transparency rules for tax advisers in the EU

DAC 6 - EU finance ministers agree on mandatory disclosure rules for intermediaries

CSSF issues circular 18/684

Anti-Money Laundering Act - BaFin has started a consultation on a draft of interpretation and application guidance

Consultation on Draft Regulation of Fiduciaries, Administration Businesses and Company Directors

Filing Portal now open for returns under the Common Reporting Standards

Rights of Individuals under the GDPR

Ratification of the double tax treaty between Luxembourg and Cyprus

European Commission amends Commission Regulation (EC) 1126/2008 as regards IFRS 9

Bill 7199 officially adopted

It’s a go for the option to apply VAT on ‘new’ immovable letting

Law of 26 March 2018 containing provisions related to the reformed regime for private equity AIFs

Tax treaty Belgium - Japan

New double tax treaty signed between France and Luxembourg

CSSF issues circular 18/687 on transitional arrangements

SGX consults public on proposed safeguards for dual class share listings

Heavy CbCR files can be downloaded on myguichet.lu

Central Bank of Ireland publishes review of the regulatory framework for Irish UCITS (CP 119)

Catch all

MAS and financial industry to develop guidance on responsible use of data analytics

Data Protection Bill 2018 passed by the Irish Senate

SGX RegCo launches SGX Fast Track programme for companies with good corporate governance standing

Singapore Activated Three New Relationships for Automatic Exchange of Financial Account Information in 2018

Compulsory deposit via electronic means

Provisions for the purpose of real estate tax are unconstitutional according to the German Constitutional Court

Disposal of partnership interests is not unconstitutional - constitutional complaint unsuccessful

Commission publishes Art. 29 WP Guidelines on consent

Commission publishes Art. 29 WP Guidelines on transparency

Release of the public consultation on abusive schemes

Royal Decree of 15 April 2018 approving the NBB regulation of 6 February 2018 on the expertise of those responsible for the compliance function

AMF notes ESMA’s negative opinion concerning the project to introduce a new accepted market practice governing liquidity contracts

Parliament votes at first reading on 5AMLD

AMF study on the strong volatility observed on the markets in early February 2018

AMF ombudsman 2017 annual report

Speech: the Asset Management Sector - supervisory insights with a changing landscape

Decree n°2018-284 strengthening the framework on anti-money laundering measures and the financing of terrorism

FSMA Communication on the overall assessment of money laundering and terrorist financing risks

Art. 29 WP issues position paper on derogations from the obligation to maintain records of processing activities under Art. 30(5) of GDPR

Commission proposes Directive on whistle-blower protection in 10 policy areas

Scope of the VAT exemption for credit management

ALFI releases its opinion on the new convention between France and Luxembourg

Federal Ministry of Finance consults on draft law modifying the financial market legislation

Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2018

Further legislative steps on Bill 7217 (REBECO)

Consultation Paper on Proposed Guidelines on Individual Accountability and Conduct

AMF modifies its General Regulation and updates its doctrine

BaFin starts a consultation on MaDepot

BVI calls for extension of temporary PRIIPs exemption for investment funds

Updated AIFMD Q&A document

Minimum requirements for complaint management: BaFin publishes a circular

Central Bank of Ireland issues Anti-money Laundering bulletin

Defensive measures issued by the Luxembourg tax authorities

AMF modifies its General Regulation and its doctrine on UCITS and AIFs share classes

FAQ issued on the Belgian transfer pricing documentation requirements

Royal Decree of 8 May 2018 implementing the reformed regime for private equity AIFs

NBB and FSMA Communications on the implementation of their compliance Regulations 

Data Protection Commissioner publishes guidance on the GDPR

Belgian TIS: New Practice Note on the deduction of costs

Council adopts 5AMLD

Statutory interest rate levied on late payment of taxes no longer up-to-date according to the Supreme Tax Court

New procedure applicable for Luxembourg investment funds, investment fund managers and securitization undertakings and UCITS and AIFM/ESMA attestations for non-EU countries

CSSF launches new e-Desk portal

Further legislative steps (Bill 7184)

Securities lending and securities repurchase agreements under the German Investment Tax Act

AMF publishes its 2017 annual report

Decree on administrative sanctions

Claiming GST on Expenses for Qualifying Funds

Additional comments and recommendations on selected topics

Updated Self-Certification Forms for the Common Reporting Standard and FATCA

Information update on EU General Data Protection Regulation (GDPR)

Belgian Minister of Finance agrees about a loophole

Enforcing the GDPR: where does the Irish Data Protection Commission stand?

BCL issues circular 2018/241 on new statistical data collection for non-regulated alternative investment funds

Commencement of Irish Data Protection Act 2018

Mandatory disclosure rules for intermediaries (DAC6) formal adoption

Practice Note provides further guidance

Belgian Constitutional Court annuls Fairness Tax

Commission services consult on draft delegated regulations concerning safekeeping duties of depositaries until 26 June 2018

Joint Unit of the ACPR and the AMF publishes its 2017 annual report

Implementation of the Directive 217/593/EU

Irish Revenue publishes updated Tax and Duty Manuals

Implementation of the Directive 2014/65/EU and of Regulation 600/2014/EU

BaFin issues forms to acquire or increase significant/qualifying holdings

Euronext Dublin reduces ongoing reporting obligations for UCITS and Irish regulated funds

New Belgian Companies Code

FSMA determines criteria to distinct portfolio management from asset-related activities for AIFMs that manage real estate investment funds

DAC6 enters into force on 25 June 2018

Data Protection Commission launches Public Consultation on types of data processing operations requiring an impact assessment

Communication in English easier in the approval process for securities prospectuses

Input VAT deduction available despite missing details on invoice

Non-authorized character and update of the rules with respect to declaration of the tax identification number

First German court decision interpreting the GDPR

AMF updates its guide on MiFID II impacts for financial investment advisors (CIFs)

AMF publishes a study on macro stress tests for the markets and the asset management industry

Central Bank of Ireland Fund publishes notice on Management Company Directors who act as a Designated Person

Fund Profile: reporting requirements of Irish Authorised Investment Funds

5AMLD published in OJEU

Luxembourg Draft Bill for implementation of ATAD1

Extension of the list of jurisdictions submitted to declaration with respect to Fiscal Year 2017

Data Protection Commission publishes guidance on limiting data subject rights and the application of Article 23 of the General Data Protection Regulation

Public Consultation on Draft Income Tax (Amendment) Bill 2018

ESMA confirms the end of the temporary period for LEIs

MFSA Circular and FAQs on beneficial ownership information of trusts

Proposed changes regarding share deals

EBA issues Opinion on the preparations of financial institutions

Draft Annual Tax Act 2018

AMF updates its doctrine on in the context of MiFID II transposition and the new management company regime

2018 Annual FATCA and DAC2-CRS Reporting

Public Consultation on Draft Goods and Services Tax (Amendment) Bill 2018

Bill 7216 on the register of trusts split into 2 bills after the publication of 5AMLD

Scope of the exemption for the management of special investment funds

OECD releases BEPS discussion draft on the transfer pricing aspects of financial transactions

Central Bank of Ireland issues Guidance on requirements for Fund Management Companies

Letting of a building by a holding company to its subsidiary

New list of jurisdictions subject to Country-by-Country Reporting

Update of the list of jurisdictions subject to declaration for declarations related to the year 2017

CSSF and CAA communicate on EMIR reporting

Legislative changes relating to Annual General Meetings and Annual Returns timelines will take effect on 31 August 2018

Draft Act on Various Income Tax Provisions

CSSF Forms Updates

BaFin Brexit Questionnaire to MiFID branches of UK firms providing investment services in Germany

Further legislative steps (Bill 7217)

CSSF urges fund management companies to submit their Brexit-related applications

Further legislative steps (Bill 7216A)

JFSC communicates on the entry into force of the 2017 LLP Law on 1 August 2018

Further legislative steps (Bill 7168)

Further legislative steps (Bill 7184)

Implementation of the VAT Group law

VAT and immovable rent - as from 1 January 2019

2018/C/103 Administrative circular on reimbursements of paid-up capital

Corporate Governance Council submits final recommendations to strengthen corporate governance in Singapore

FSMA circular on the implementation of a risk-based approach

Royal Decree approving FSMA regulation of 3 July 2018

Royal Decree on the functioning of the UBO register

Implementing and Transposition Laws enter into force on 20 August 2018

CSSF Forms and FAQ Updates

4AMLD Transposition Law on information to be obtained and kept by trustees enters into force on 25 August 2018

CSSF issues Circular 18/697 on organisational arrangements for AIF depositaries entering into force on 1 January 2019

CSSF issues extensive Circular 18/698 on authorisation and organisation of Investment Fund Managers entering into force on 23 August 2018

FSMA circular on the periodic questionnaire

Extended deadline for the UBO register

CBI Thematic Review on UCITS Performance Fees

MAS introduces new corporate structure to enhance fund ecosystem in Singapore

Law organising the FIU enters into force on 1 November 2018

Federal Ministry of Finance provides form template for capital gains tax for 2019

BaFin publishes a Circular regarding AML and high risk countries

FSMA updates its FAQ on Regulation of 17 January 2017

Australia, France, Japan and Slovak Republic ratify the Multilateral Instrument

Corporate Structure - Variable Capital Companies Bill (2018) – Second reading in Parliament 

Insolvency Law - Insolvency, Restructuring and Dissolution Bill

CbCR - Luxembourg Tax Authority updates its FAQs

Publicity - Mandatory use of an information note and the content thereof

Tax Fraud - New package of measures to fight against tax fraud and improve tax collection

Brexit - FCA consults on temporary permissions and handbook changes 

Corporate Law - Draft law on the implementation of the Code of Companies and Associations

Venture Capital - Venture Capital Investment Model Agreements (VIMA)

Markets in Financial Instruments Act 2018 signed into law

Corporate Law - Draft law to modernise: (i) the business code, (ii) the rules regarding proof and (iii) the rules regarding property

VAT - No VAT deduction on deal fees for an intended (not realised) sale of shares

AML/CFT - 6AMLD on criminal law will apply from 3 December 2020

External Management - MAS to place up to US$5 billion with private equity and infrastructure fund managers

AML - Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018

CbCR - Automatic exchange between China and Luxembourg

AIFMD/UCITS - Central Bank of Ireland publishes Guidance Note for AIFMs and UCITS Management Companies on the Minimum Capital Requirement Report

FATCA - Updated FATCA registration system FAQ

AIFMD - Central Bank of Ireland publishes “Notice of intention” to make provision for entities to act as depositaries to AIFs

Outsourcing - Central Bank of Ireland publishes paper on outsourcing activities in Financial Service Providers

Financial Reporting - BCL issues Calendar of remittance dates for the statistical reporting of investment funds in 2019

Supervision - 2 decrees are published in the context of the modernisation of the legal framework of asset management and debt financing

Supervision - AMF publishes a summary of the five thematic inspections on Client knowledge and experience (SPOT inspections)

AML/CFT - Government issues Beneficial Ownership Register Policy

AML/CFT - New series of comments and recommendations on NBB’s website

Judgement from the Court of Appeal of Brussels of 29 November 2018 on Belgian net asset tax

Filing Requirements - Public Consultation on Proposed Revisions to XBRL Filing Requirements and Data Elements

Draft laws regarding: (i) Belfius, and (ii) the Code of Companies and Associations

MFSA releases Circular regarding the delay in the disclosure of inside information by issuers of financial instruments

CySEC issues Circular C287 on technical clarifications concerning AIFMD reporting and relevant reporting obligations

Parliament votes at first reading on the Bill 7217 concerning the BO Register

Luxembourg Parliament votes to approve transposition into Luxembourg’s tax laws

Draft law containing tax, anti-fraud, financial and miscellaneous provisions

New registration requirements for firms for Anti-Money Laundering purposes

Law containing measures to combat tax fraud and tax evasion with respect to withholding tax

Central Bank of Ireland publishes Consultation Paper 128 on Anti-Money Laundering and Countering the Financing of Terrorism Guidelines for the Financial Sector

Last series of comments and recommendations on NBB’s website

Entry into force of the Anti-Tax Avoidance Directive: Q&A and press release

AMF updates some of its doctrine to take into account MiFID II requirements and the related change in the French asset managers regime

CSSF communicates new Form on the authorisation and organisation of IFMs (points 105 and 107 of the Circular CSSF 18/698)

Guidance to Capital Markets Intermediaries on Enhancing AML/CFT Frameworks and Controls

National Bank of Belgium urges financial institutions to prepare for the Brexit

TPR window open for notification

FCA consults on contract continuity and securitisation repositories

Commission releases Report on the Operation of the AIFMD

AMF unveils its priorities for 2019

MFSA develops Online Platform for Trusts Ultimate Beneficial Ownership Register

MFSA issues Circular on the UK FCA Temporary Permissions Regime

Law containing measures to combat tax fraud and tax evasion with respect to withholding tax

Law of 13 January 2019 establishing the BO Register published in the Memorial A

Central Bank of Ireland provide update on MoU with the FCA and the delegation of portfolio management

Conseil d’État issues Opinion on Draft Grand-Ducal Regulation supplementing the Law of 13 January 2019 establishing a BO Register

CySEC publishes Circular C 293 on the UK FCA’s Temporary Permissions Regime

Irish government publishes General Scheme of the Miscellaneous Provisions (Withdrawal of the United Kingdom from the European Union on 29 March 2019) Bills

AMF updates some of its doctrine to take into account MiFID II requirements and the related change in the French asset managers regime

ECJ: Turnover head office may impact partial input VAT recovery of branch

Circular CSSF 19/708 on electronic transmission of documents enters into force on 1 February 2019

CSSF communicates on Delegation of Investment Management and TPR

Summary of fees due to the AMF

Law containing tax, anti-fraud, financial and miscellaneous provisions (including the implementation of Belgian 30% EBITDA rule as from 2019)

Extended deadline for the UBO register

CySEC issues Announcement on ESMA and European securities regulators, including CySEC, agreed no-deal Brexit MoUs with the UK

FCA publishes transitional power and TR arrangements

Draft law to activate dividend received deduction

Financial Reporting Practice Guidance 1 of 2019: Areas of Review Focus for FY2018 Financial Statements under the Financial Reporting Surveillance Programme administered by ACRA

Updated Definition of Accredited Investor and Opt-in Process

ESMA consults on Draft Guidelines on liquidity stress testing for fund managers and depositaries until 1 April 2019

An ordinance is published in the context of the preparation for the Brexit

JFSC and Government of Jersey Letter to CEO on No Deal Brexit Planning

AMF modifies its General Regulation concerning French employee investment funds

Parliamentary question with respect to the modification of the Belgian tax on savings income

MFSA issues Circular on the agreement between EU/EEA securities regulators and the UK’s FCA as part of no-deal Brexit scenario

Ratification by Luxembourg

Implementing Regulation on the BO Register published in the Memorial A

Companies (Amendment) Bill 2019 (updated 19 February 2019)

Provision of investment services and performance of investment activities in Belgium by companies governed by UK law after Brexit

AMF modifies its General Regulation on some provisions relating to AIFs

FATF consults on the Draft Risk-Based Approach Guidance for trust and company service providers, legal professionals and accountants

FCA and PRA Updates on preparations and near-final rules

Draft law on the Multilateral Convention

Final TAX3 Report Labels 7 EU Member States Tax Havens

Adoption of the new Code of Companies and Associations

CSSF issues Communiqué on CNC’s Q&As

Compliance by Regulated Financial Service Providers with their Obligations under the Fitness and Probity Regime

Draft law on Multilateral instrument

2 Laws of 8 April 2019 on measures to be taken

in relation to the financial sector published in Memorial A

French PACTE draft Bill was adopted at its final

reading in the French National Assembly

Temporary permissions regime for inbound passporting EEA firms and funds

Parliament Plenary votes on 1 Directive and 1 Regulation facilitating the cross-border distribution of collective investment funds

Companies (Amendment) Act 2019 (No. 10)

ESMA and EIOPA issue Technical Advice on integrating sustainability risks and factors in delegated acts under UCITS Directive, Solvency II, AIFMD, MiFID II and IDD

FIU issues Note on false transfers (‘faux virements’)

Law containing various financial provisions

Proposal on various fiscal provisions 2019-I

Revenue eBriefs

Luxembourg Budget Law 2019 voted and published in the Mémorial A

Consultation Paper on the Proposed Framework for Variable Capital Companies - Part 2

(Draft) laws to: (i) combat late payment to SME’s, (ii) insertion of a new ‘Obligations’ in the new Civil Code, (iii) abolish an obligation in the Code of Economic Law regarding registration in the Crossroads Bank for Enterprises, and (iv) to increase financial transparency in the non-profit sector

Authorisation requirements for management companies

CySEC publishes Circulars informing Regulated Entities of measures to remedy vulnerabilities identified in the National Risk Assessment

Law on various tax provisions

Registrar’s Interpretation No. 1 of 2019

XBRL Filing Enhancements - New multi upload tool and latest version of BizFinx preparation tool released

New Royal decree published on legal constructions outside EEA falling in the scope of the Cayman Tax

Gentlemen’s agreement Belgium-Luxembourg

Amendment of the Grand-Ducal Regulation on the Common Reporting Standard

Belgium implements new EU tax dispute resolution directive

Annual questionnaire on anti-money laundering and terrorist financing

Public Consultation on the draft Income Tax (Amendment) Bill 2019

CSSF publishes Template for key information to complete when sending licencing application for setting up UCI Part II, SIF, SICAR and ELTIF

PACTE Law published in the French Official Journal

Publication in the OJEU of the Regulation 2019/834 and ESMA Q&A Updates

Preparation of the corporate income tax return and the local form - general due date of 26 September 2019

Publication of the frequently asked questions

ESMA updates its Q&As on depositary tasks and functions

Clearing and reporting obligation

CySEC issues Circular C321 reminding AIFs, AIFLNPs and RAIFs of requirements concerning the raising of capital from investors within a specified time period

Administrative guidance on Luxembourg’s IP tax regime

GFSC issues Revised Guidance Note on PTCs and Expectations of licensed fiduciaries administering PTCs

ESMA updates its Q&As on EMIR data reporting (new Q&As applying from 17 June 2019)

LBR issues further Guidance on the BO Register

Crown Dependencies issue Joint Commitment on increased transparency and accessibility of beneficial ownership registers

Public Consultation on the draft Income Tax (Amendment) Bill 2019

Investment Limited Partnerships (Amendment) Bill 2019

FATF updates RBA Guidance for practitioners and reports to G20 Leader’s Summit

Transfers of Personal Data to Third Countries or International Organisations

CySEC issues RBS-F Version 2 Form for CIFs to be submitted by 18 July 2019

Administrative guidance on Luxembourg’s IP tax regime

CSSF issues Circular 19/721 on dematerialised requests and launches eDesk Portal

CSSF communicates on the PRIIPs Assessment for SIFs, Part II UCIs and SICARs by 31 October 2019

CSSF issues Press Release 19/34 on mandatory notification by UK UCIs and/or their managers in case of a ‘hard Brexit’

AMF publishes Summary of socially responsible investment practices observed during its thematic inspections

Change of the XSD scheme as from 1st August 2019

CySEC issues Circular C331 on FATF Updated Guidance on Risk-based Approach for Trust and Company Service Providers

Consultation Paper on the Proposed Framework for Variable Capital Companies Part 3

FSMA Guidance relating to marketing communications

AMF publishes Summary of the PACTE Law and structuring measures for the AMF and the stakeholders it regulates

Practice Guide

FSMA Circular on internal control and periodic statements

Explanatory Brief on the Variable Capital Companies (Miscellaneous Amendments) Bill

Task Force of 4 Associations issues illustrative non-binding Guidance on identifying BO of investment funds

Bill 7467 transposing AMLD V submitted to Parliament

Implementing Bill 7466 is published

Bill 7465 on Disclosure for certain cross-border arrangements is published

Fund Liquidity Management

European Union (Alternative Investment Fund Managers) (Amendment) Regulations 2019 [S.I. No. 428 of 2019]

ESMA finalises Guidelines on Liquidity Stress Testing in UCITS and AIFs

Variable Capital Companies (Miscellaneous Amendments) Bill

CSSF communicates on eDesk Account Creation and UCI Approval Information Session

Anti-Money Laundering and Countering the Financing of Terrorism Guidelines for the Financial Sector

CNC and CTIE inform business users about the Standard Chart of Accounts 2020 and the Mapping Tables

Circular letter regarding the "grandfathering" provision included in 30% EBITDA rule

Regulation on the Standard Chart of Accounts (2020) referred to in Article 12 of Commercial Code enters into force on 27 September 2019

Registration: policy of tolerance until 31 December 2019

Entry into force of the double tax treaty France – Luxembourg

CSSF updates FAQ (Version 15) on the impact of PRIIPs Regulation

CNC issues Q&A Document clarifying interpretative issues under Article 36 of the Accounting Law

Proposals of Law amending several aspects of Belgian company law

CSSF communicates on access to the Full National Risk Assessment Report

Draft Proposal on the automatic and mandatory exchange of information related to reportable cross-border arrangements

CSSF communicates on the results of the 2018 EMIR IFM Questionnaire (PR 19/49)

Pre-2015 Luxembourg Tax Rulings to lapse at the end of 2019 (Bill n°7500)

Finance Bill

Dear CEO Letter - Compliance by Trust or Company Service Providers (TCSPs or Firms) with their obligations under the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010 (CJA 2010)

Irish draft legislation implementing DAC6 published

CSSF further communicates on the mandatory PRIIPs Assessment for SIFs, Part II UCIs and SICARs by 31 October 2019 (PR 19/50)

MFSA consults on Reforms to regulatory framework for Company Service Providers until 22 November 2019

Revised Guidelines on Licensing, Registration and Conduct of Business [SFA 04-G05]

CSSF issues FAQs on persons involved in AML/CFT for a Luxembourg investment fund or investment fund manager

ESMA updates its Q&As on Liquidity Stress Tests

Publication of the Decree n° 2019-1296 of 4 December 2019 specifying the operating rules of specialised financing vehicles

AMF publishes a Summary of its thematic inspections on Derivatives Reporting Practices

Disclosures Regulation 2019/2088 and Benchmarks Regulation 2019/2089 published in the OJEU

Political Agreement on Taxonomy Regulation

Circular concerning the concept of Belgian establishment

Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions

Introduction of the deduction of the group contribution and interest limitation rule

CSSF issues Circular 19/733 implementing IOSCO Recommendations on LRM for open-ended UCIs

CSSF issues Circular 19/732 clarifying the identification and verification of the identity of the UBO(s)

Adopted Bill n° 7466 published in Memorial A

Adopted Bill n° 7500 published in Memorial A

Government publishes a Q&A Document on the changes introduced by the Pacte Law on employee benefit schemes

Law on the automatic and mandatory exchange of information related to reportable cross-border arrangements published in the Official State Gazette

CSSF issues Communiqué on the Regulation on the Standard Chart of Accounts (2020) and the CNC Q&A Document clarifying interpretative issues under Article 36 of the Accounting Law

AMF unveils its Priorities for 2020

Draft Law amending various provisions with a view to introduce a securities tax

Parliamentary Finance and Budget Committee adopts 20 Amendments on Bill 7467 transposing certain provisions of AMLD V

Launch of the VCC Framework and Responses to 3 Consultation Papers

CSSF publishes 1st ML/FT risk assessment on the collective investment sector

AMF updates its Policy relating to inducements and fees

Dear CEO - Wholesale Market Conduct Risk - Industry Communication 2020

Conclusion of the Withdrawal Agreement voted by Parliament and adopted by Council

Parliamentary Question

Publication of an Ordinance and 2 Decrees strengthening the French AML/CFT

Publication of the Order of 28 January 2020 approving amendments to the General Regulation of the Autorité des marches financiers

AMF publishes a Focus clarifying the relations between producers and distributors

Circular relating to Judgment of the Constitutional Court concerning the actions for annulment against the tax on securities accounts

Circular on the group contribution regime

Amendment to Draft Law transposing the European Directive regarding the encouragement of long-term involvement by the shareholders

Proposal of Law to combat late payments in commercial transactions

AMF updates its doctrine relating to AIFs

Circular concerning the tax exemption of income derived from regulated savings deposits by credit institutions established abroad

AMF publishes a Focus on the EMIR

Circular on transfer pricing guidelines for multinational enterprises and tax authorities

Two additional months for issuers to hold AGMs due to concerns about large-group meetings amid COVID-19

Updated Periodic Questionnaire

Language of the annual accounts, consolidated accounts and other related documents

AMF publishes Press Release
on shareholders general meetings of listed companies

Implementation of revised filing requirements and Release of BizFinx preparation tool

MFSA issues Circulars on contingency planning and timing of regulatory reporting

Draft Royal Decree on companies facing the impossibility to organise physical meetings (board of directors or shareholders meeting)

Corporate tax support measures

AED announces administrative tolerance in the filing of VAT return

AMF states Expectations for market activities
continuity

Grand-Ducal Regulation enters into force on 20 March 2020

Main AMLD V Transposition Law enters into force on 30 March 2020

Bill 7465 approved by Luxembourg Parliament and Law published in the Memorial A

Publication of the Decree n°2020-286 of 21 March 2020 amending the legal framework for asset management relating to extinctive management funds

Circular on the application of the exemption conditions for write-downs on trade receivables

CSSF communicates on Long Form Reports

MFSA issues Announcement on main amendments introduced by Trusts and Trustees Act (Register of Beneficial Owners) (Amended) Regulations, 2020

Publication of Several Ordinances

Omnibus Bill 7540 and Bill 7541 extending certain reporting and accounting deadlines by 3 months submitted to Parliament

CSSF further updates FAQ to extend certain reporting deadlines

AMF publishes Press Release on shareholders general meetings of listed companies

CySEC issues Circular C371 extending submission deadlines of certain reports

CSSF further updates FAQs (Version of 2 April 2020)

ACRA, MAS and SGX RegCo update guidance on General Meetings

CySEC issues Amending Circular C373 further extending deadlines to submit various documents until June - August 2020

AMF issues Q&A to assist asset management companies

Dedicated Sections on websites of Belgian regulatory authorities

Luxembourg tax authorities issue preliminary Guidelines regarding practical aspects of the upcoming electronic exchange of information resulting from DAC 6

NBB communicates on expectations regarding dividend distribution policy

Royal Decree updating the RD ITC 92

Further legislative steps in relation to Bills 7540 and 7541

FAQs on the Licensing and Registration

Extension of Deadlines

NBB issues Communication

CySEC issues Circular C377 on Actions to be taken concerning the FDR

Notices and FAQs on Minimum Entry and Examination Requirements for Representatives of Holders of Capital Markets Services licence, Exempt Financial Institutions, Licensed Financial Advisers and Exempt Financial Advisers

FSMA issues Press Release

CSSF launches a New Weekly IFM Questionnaire (1st reporting deadline for concerned IFMs by 20 April 2020)

Further legislative steps in relation to Bill 7541

ESMA issues Public Statement extending the deadlines for Fund Managers to submit their yearly and half-yearly reports to NCAs

CSSF issues Circular 20/740 on financial crime and AML/CFT implications during the COVID-19 pandemic

Publication of the Decree n°2020-418 of 10 April 2020 adapting the rules of meetings and deliberation of the meetings and governing bodies of legal persons and entities without legal personality under private law

Amendment to, and approval of, Belgian Implementing Law

New e-Tax Guide and FAQs

CySEC issues Circular C380 on periodic reporting obligations for Fund Managers

NBB communicates on reduction of reporting

Council formally adopts the Taxonomy Regulation

Bill 7566 extends measures concerning holding of meetings

ESAs consult on Draft RTS until 1 September 2020

Extended Deadlines

Securities Markets, Investment Management, Investment Firms and Fund Service Providers

Royal Decree N°15 on the temporary suspension for the benefit of companies of implementing measures and other measures

Corporate tax support measures

AMF publishes Summary of its thematic inspections on AIFM reporting systems

Publication of the Order of 10 April 2020 approving amendments to the General Regulation of the Autorité des Marchés Financiers

Amendment to Royal Decree N°4 on coownership and company and association law

AMF Chairman’s Speech

Publication of the Decree n° 2020-493 of 28 April 2020 establishing the list of collective investments whose management commissions are exempt from VAT pursuant to Article 33 of Law n° 2019-1479 of 28 December 2019

Law of 20 July 2020 transposing the 5AMLD

FSMA communicates on reporting to competent authorities

Amending Regulations of 14 August 2020 published in the
Memorial A

Law of 20 June 2020 extending measures concerning the holding of meetings in companies and other legal persons
published in Memorial A

Royal Decree on the administrative formalities

MFSA issues Circular on Investment Services Rules Changes for AIFs, PIFs and UCITS in relation to the reporting of breaches in the annual report and audited financial statements

Tax Framework (e-Tax Guide)