Regulatory Watch

Welcome to our new Regulatory Watch section

 

Other publications

This site has been created to help our clients navigate through the ever increasing complex financial regulatory environment and to anticipate some of their challenges and opportunities. 

Please find here the latest European and international updates concerning tax, regulations, laws and directives that we feel are pertinent to you. Downloads are restricted  to Alter Domus' clients only.

 

For further information or if you have any questions please do not hesitate to contact us    

 

Regulatory watch

Topic News Area Territory Date Link to the news Month Year
AML/CFT

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

Reg Ireland 02/01/2018 January 2018
Investment Firm Regulation

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

Reg Ireland 02/01/2018 January 2018
Post-Trade Transparency

BaFin approves later publication of transactions

Reg Germany 02/01/2018 January 2018
PRIIPs

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

Reg Belgium 02/01/2018 January 2018
Fund listing

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

Reg Ireland 03/01/2018 January 2018
AML/CFT

11 amendments to the Bill 7128

Reg Luxembourg 09/01/2018 January 2018
Financial Sector

5 amendments to the omnibus Bill 7024

Reg Luxembourg 09/01/2018 January 2018
MCAA

Multilateral Agreement on Exchange of Financial Account Information

Tax Belgium 10/01/2018 January 2018
Company Law

Amending RESA Regulation published in the Memorial A

Reg Luxembourg 11/01/2018 January 2018
Reporting for Listed Companies

SGX consults on quarterly reporting

Reg Singapore 11/01/2018 January 2018
Data Protection

New data protection rules in the Fiscal Code from May 2018

Tax Germany 12/01/2018 January 2018
Distribution of investment funds

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

Reg Germany 12/01/2018 January 2018
Risk management

Irish regulator streamlines risk management reporting for UCITS funds

Reg Ireland 14/01/2018 January 2018
MAR

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

Reg Belgium 15/01/2018 January 2018
Product Intervention

BaFin explains pan-European instrument for strengthening consumer protection

Reg Germany 15/01/2018 January 2018
Reporting for Listed Companies

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

Reg Singapore 16/01/2018 January 2018
MiFID II

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

Reg France 17/01/2018 January 2018
Crowdfunding

BMF publishes circular on the treatment of donations

Tax Germany 18/01/2018 January 2018
Distribution of investment funds

First market reports under MiFID II

Reg Germany 18/01/2018 January 2018
Real Estate Collateral

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

Reg Germany 18/01/2018 January 2018
Supervision

AMF’s 5-year strategic plan

Reg France 18/01/2018 January 2018
Verification of minimum knowledge

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

Reg France 22/01/2018 January 2018
GDPD/GDPR

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

Reg EU 24/01/2018 January 2018
Tax update

Notice regarding indexation of tax scales - Tax year 2019

Tax Belgium 26/01/2018 January 2018
Financial Services Action Plan

IFS2020 Action Plan for 2018

Reg Ireland 30/01/2018 January 2018
Financial instruments

Complex and non-complex financial instruments classification

Reg France 31/01/2018 January 2018
Corporate law reform

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

Reg Belgium 01/02/2018 February 2018
GDPR

Irish Government Publishes Data Protection Bill 2018

Reg Ireland 01/02/2018 February 2018
AML/CFT

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

Reg Cyprus 05/02/2018 February 2018
MiFID II Implementation

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

Reg Germany 05/02/2018 February 2018
Cybersecurity Regulation

Cybersecurity Bill passed by Parliament

Reg Singapore 05/02/2018 February 2018
Notification of Foreign Relationships

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

Tax Germany 05/02/2018 February 2018
Fees

AMF study on the fees charged by UCITS distributed in France

Reg France 06/02/2018 February 2018
AIFMD

Upcoming change to AIF rulebook for Loan originating Qualifying Investor AIFs

Reg Ireland 07/02/2018 February 2018
Consensus on the Coalition Agreement

Large number of provisions will impact the tax system

Tax Germany 07/02/2018 February 2018
Consensus on the Coalition Agreement

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

Reg Germany 07/02/2018 February 2018
Double Taxation Treaty

Double Taxation Treaties (updated February 2018)

Tax Ireland 07/02/2018 February 2018
Minimum Competency Regime

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

Reg Ireland 07/02/2018 February 2018
Notification Regulation

BaFin started a consultation on the amendment of the Notification Regulation

Reg Germany 07/02/2018 February 2018
Client Onboarding

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

Reg Singapore 07/02/2018 February 2018
Accounting

Commission amending Regulation published in the OJEU

Reg EU 08/02/2018 February 2018
AML/CFT

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

Reg Belgium 08/02/2018 February 2018
Brexit

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

Reg EU 08/02/2018 February 2018
CbC reporting

Further guidance provided

Tax EU 08/02/2018 February 2018
AML/CFT

4AMLD Transposition Law enters into force on 18 February 2018

Reg Luxembourg 14/02/2018 February 2018
Financial Services

GFSC issues Financial Resources Requirements Rules for the Fiduciary Sector

Reg Guernsey 15/02/2018 February 2018
FATCA

Update to guide on filing a FATCA return

Tax Ireland 16/02/2018 February 2018
Interpretation Guidance on Remuneration Ordinance

BaFin publishes an interpretation guidance on the Remuneration Ordinance for Institutions

Reg Germany 16/02/2018 February 2018
Government Budget Announcement

Singapore Budget 2018

Reg / Tax Singapore 19/02/2018 February 2018
Tax update

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

Tax Belgium 20/02/2018 February 2018
Initial Coin Offerings

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

Reg Germany 20/02/2018 February 2018
Common corporate consolidated tax base

New EU corporate tax plan

Tax EU 21/02/2018 February 2018
MiFID II

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

Reg Belgium 21/02/2018 February 2018
OTC Derivative Trading

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

Reg Singapore 21/02/2018 February 2018
AML/CFT

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

Reg Luxembourg 22/02/2018 February 2018
Cryptocurrency

AMF’s legal analysis of the offer of cryptocurrency derivatives

Reg France 22/02/2018 February 2018
Cryptocurrency

Summary of responses to the AMF consultation on initial coin offerings

Reg France 22/02/2018 February 2018
Open-ended and Real Estate Funds

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

Reg Germany 22/02/2018 February 2018
AML/CFT

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

Reg Cyprus 23/02/2018 February 2018
Investment advice

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

Reg Belgium 23/02/2018 February 2018
Tax cooperation

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

Tax Luxembourg 23/02/2018 February 2018
Accounting

Amendments to IFRS 2 published in the OJEU

Reg EU 27/02/2018 February 2018
Brexit

European Commission publishes draft Article 50 Withdrawal Agreement

Reg EU 28/02/2018 February 2018
Transfer Pricing

Singapore introduces new transfer pricing rules and guidelines

Tax Singapore 28/02/2018 February 2018
AML

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

Reg Ireland 01/03/2018 March 2018
Fairness Tax

Belgian Constitutional Court annuls Fairness Tax

Reg Belgium 01/03/2018 March 2018
Income tax treatment of trading in bitcoins

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

Tax Germany 01/03/2018 March 2018
TAXE III Committee

Approval by the EU Parliament

Tax EU 01/03/2018 March 2018
Common Reporting Standard

Consolidated list of jurisdictions subject to CRS for the year 2017

Tax Luxembourg 05/03/2018 March 2018
Capital Requirements

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

Reg Belgium 06/03/2018 March 2018
CMU

Commission action plan on financing sustainable growth

Reg EU 08/03/2018 March 2018
UCITS

Central Bank of Ireland announces Thematic Inspection of UCITS Performance Fees

Reg Ireland 11/03/2018 March 2018
Mandatory Exchange of Information

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

Tax EU 13/03/2018 March 2018
Mandatory Exchange of Information

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

Tax EU 13/03/2018 March 2018
AML/CFT

CSSF issues circular 18/684

Reg Luxembourg 14/03/2018 March 2018
Anti-Money Laundering Act

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

Reg Germany 15/03/2018 March 2018
GFSC

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

Reg Guernsey 15/03/2018 March 2018
Common Reporting Standard

Filing Portal now open for returns under the Common Reporting Standards

Tax Ireland 16/03/2018 March 2018
GDPR

Rights of Individuals under the GDPR

Reg Ireland 16/03/2018 March 2018
Double Tax Treaty

Ratification of the double tax treaty between Luxembourg and Cyprus

Tax Luxembourg 22/03/2018 March 2018
IFRS 9

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

Reg EU 22/03/2018 March 2018
PRIIPs

Bill 7199 officially adopted

Reg Luxembourg 22/03/2018 March 2018
VAT

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

Reg Belgium 24/03/2018 March 2018
AIFMD

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

Reg Belgium 26/03/2018 March 2018
Tax update

Tax treaty Belgium - Japan

Tax Belgium 26/03/2018 March 2018
Double Tax Treaty

New double tax treaty signed between France and Luxembourg

Tax Luxembourg 28/03/2018 March 2018
IFRS 9

CSSF issues circular 18/687 on transitional arrangements

Reg Luxembourg 28/03/2018 March 2018
Listing on SGX

SGX consults public on proposed safeguards for dual class share listings

Reg Singapore 28/03/2018 March 2018
Country by Country Reporting

Heavy CbCR files can be downloaded on myguichet.lu

Tax Luxembourg 29/03/2018 March 2018
UCITS

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

Reg Ireland 29/03/2018 March 2018
Tax update

Catch all

Tax Belgium 29/03/2018 March 2018
Data Analytics

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

Reg Singapore 02/04/2018 April 2018
GDPR

Data Protection Bill 2018 passed by the Irish Senate

Reg Ireland 03/04/2018 April 2018
Corporate Governance

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

Reg Singapore 04/04/2018 April 2018
Common Reporting Standard

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

Reg Singapore 09/04/2018 April 2018
Corporate Tax Return

Compulsory deposit via electronic means

Tax Luxembourg 09/04/2018 April 2018
Provisions on the Valuation of Property

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

Tax Germany 10/04/2018 April 2018
Tax Treatment of Profits

Disposal of partnership interests is not unconstitutional - constitutional complaint unsuccessful

Tax Germany 10/04/2018 April 2018
Data Protection Directive/GDPR

Commission publishes Art. 29 WP Guidelines on consent

Reg EU 11/04/2018 April 2018
Data Protection Directive/GDPR

Commission publishes Art. 29 WP Guidelines on transparency

Reg EU 11/04/2018 April 2018
Common Reporting Standard

Release of the public consultation on abusive schemes

Tax EU 14/04/2018 April 2018
Compliance Function

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

Reg Belgium 15/04/2018 April 2018
Liquidity Contracts

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

Reg France 16/04/2018 April 2018
AML/CFT

Parliament votes at first reading on 5AMLD

Reg EU 19/04/2018 April 2018
Market Volatility

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

Reg France 19/04/2018 April 2018
PRIIPs

AMF ombudsman 2017 annual report

Reg Luxembourg 19/04/2018 April 2018
Supervisory Priorities

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

Reg Ireland 19/04/2018 April 2018
AML/CFT

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

Reg France 20/04/2018 April 2018
AML/CFT

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

Reg Belgium 20/04/2018 April 2018
GDPR

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

Reg EU 23/04/2018 April 2018
Reporting

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

Reg EU 23/04/2018 April 2018
Circular Letter

Scope of the VAT exemption for credit management

Tax Belgium 24/04/2018 April 2018
Double Tax Treaty

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

Tax Luxembourg 24/04/2018 April 2018
Securitization Regulation

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

Tax Germany 24/04/2018 April 2018
AML/CFT

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

Reg Ireland 26/04/2018 April 2018
AML/CFT

Further legislative steps on Bill 7217 (REBECO)

Reg Luxembourg 26/04/2018 April 2018
Conduct in Financial Institutions

Consultation Paper on Proposed Guidelines on Individual Accountability and Conduct

Reg Singapore 26/04/2018 April 2018
Liquidity Management

AMF modifies its General Regulation and updates its doctrine

Reg France 26/04/2018 April 2018
Minimum Requirements for Custody Business

BaFin starts a consultation on MaDepot

Reg Germany 26/04/2018 April 2018
PRIIPs

BVI calls for extension of temporary PRIIPs exemption for investment funds

Reg Germany 26/04/2018 April 2018
AIFMD

Updated AIFMD Q&A document

Reg Ireland 04/05/2018 May 2018
Complaint Management

Minimum requirements for complaint management: BaFin publishes a circular

Reg Germany 04/05/2018 May 2018
AML/CFT

Central Bank of Ireland issues Anti-money Laundering bulletin

Reg Ireland 04/05/2018 May 2018
Non-cooperative Jurisdictions

Defensive measures issued by the Luxembourg tax authorities

Tax Luxembourg 07/05/2018 May 2018
Share Classes

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

Reg France 07/05/2018 May 2018
Transfer Pricing

FAQ issued on the Belgian transfer pricing documentation requirements

Tax Belgium 07/05/2018 May 2018
AIFMD

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

Reg Belgium 08/05/2018 May 2018
Compliance Function

NBB and FSMA Communications on the implementation of their compliance Regulations 

Reg Belgium 08/05/2018 May 2018
GDPR

Data Protection Commissioner publishes guidance on the GDPR

Reg Ireland 08/05/2018 May 2018
Taxable Income per Share

Belgian TIS: New Practice Note on the deduction of costs

Tax Belgium 09/05/2018 May 2018
AML/CFT

Council adopts 5AMLD

Reg EU 14/05/2018 May 2018
Late Payment of Taxes

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

Tax Germany 14/05/2018 May 2018
Certificate of Residence

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

Tax Luxembourg 15/05/2018 May 2018
Financial Services

CSSF launches new e-Desk portal

Reg Luxembourg 15/05/2018 May 2018
GDPD/GDPR

Further legislative steps (Bill 7184)

Reg Luxembourg 15/05/2018 May 2018
Securities Lending

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

Tax Germany 15/05/2018 May 2018
AMF

AMF publishes its 2017 annual report

Reg France 17/05/2018 May 2018
AML/CFT

Decree on administrative sanctions

Reg Belgium 17/05/2018 May 2018
Goods and Services Tax

Claiming GST on Expenses for Qualifying Funds

Tax Singapore 18/05/2018 May 2018
AML/CFT

Additional comments and recommendations on selected topics

Reg Belgium 22/05/2018 May 2018
CRS/FATCA

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

Tax Ireland 22/05/2018 May 2018
GDPR

Information update on EU General Data Protection Regulation (GDPR)

Reg Ireland 22/05/2018 May 2018
Tax on Securities Accounts

Belgian Minister of Finance agrees about a loophole

Tax Belgium 22/05/2018 May 2018
GDPR

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

Reg Ireland 23/05/2018 May 2018
AIF Reporting

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

Reg Luxembourg 24/05/2018 May 2018
GDPR

Commencement of Irish Data Protection Act 2018

Reg Ireland 24/05/2018 May 2018
DAC6

Mandatory disclosure rules for intermediaries (DAC6) formal adoption

Tax Belgium 25/05/2018 May 2018
Tax on Securities Accounts

Practice Note provides further guidance

Tax Belgium 25/05/2018 May 2018
Fairness Tax

Belgian Constitutional Court annuls Fairness Tax

Tax Belgium 28/05/2018 May 2018
AIFMD/UCITS

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

Reg EU 29/05/2018 May 2018
AMF/ACPR

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

Reg France 30/05/2018 May 2018
MiFID II/MiFIR

Implementation of the Directive 217/593/EU

Reg Luxembourg 30/05/2018 May 2018
Tax and Duty Manuals

Irish Revenue publishes updated Tax and Duty Manuals

Tax Ireland 30/05/2018 May 2018
MiFID II/MiFIR

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

Reg Luxembourg 31/05/2018 May 2018
Owner Control of Investment Firms

BaFin issues forms to acquire or increase significant/qualifying holdings

Reg Germany 01/06/2018 June 2018
Reporting Requirements

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

Reg Ireland 01/06/2018 June 2018
Corporate Law

New Belgian Companies Code

Reg Belgium 04/06/2018 June 2018
AIFMD

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

Reg Belgium 05/06/2018 June 2018
Mandatory Exchange of Information

DAC6 enters into force on 25 June 2018

Tax EU 05/06/2018 June 2018
GDPR

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

Reg Ireland 06/06/2018 June 2018
Securities Prospectuses

Communication in English easier in the approval process for securities prospectuses

Reg Germany 06/06/2018 June 2018
VAT Deduction

Input VAT deduction available despite missing details on invoice

Tax Germany 06/06/2018 June 2018
FATCA

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

Tax Luxembourg 12/06/2018 June 2018
GDPR

First German court decision interpreting the GDPR

Reg Germany 13/06/2018 June 2018
MiFID II

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

Reg France 13/06/2018 June 2018
Stress-testing

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

Reg France 13/06/2018 June 2018
Fund Governance

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

Reg Ireland 15/06/2018 June 2018
Reporting Requirements

Fund Profile: reporting requirements of Irish Authorised Investment Funds

Reg Ireland 15/06/2018 June 2018
AML/CFT

5AMLD published in OJEU

Reg EU 19/06/2018 June 2018
ATAD1

Luxembourg Draft Bill for implementation of ATAD1

Tax Luxembourg 19/06/2018 June 2018
Common Reporting Standard

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

Tax Luxembourg 19/06/2018 June 2018
GDPR

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

Reg Ireland 19/06/2018 June 2018
Income Tax

Public Consultation on Draft Income Tax (Amendment) Bill 2018

Tax Singapore 20/06/2018 June 2018
MiFID II/MiFIR

ESMA confirms the end of the temporary period for LEIs

Reg EU 20/06/2018 June 2018
AML/CFT

MFSA Circular and FAQs on beneficial ownership information of trusts

Reg Malta 21/06/2018 June 2018
Real Estate Transfer Tax

Proposed changes regarding share deals

Tax Germany 21/06/2018 June 2018
Brexit

EBA issues Opinion on the preparations of financial institutions

Reg EU 25/06/2018 June 2018
Annual Tax Act

Draft Annual Tax Act 2018

Tax Germany 25/06/2018 June 2018
MiFID II

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

Reg France 26/06/2018 June 2018
CRS/FATCA

2018 Annual FATCA and DAC2-CRS Reporting

Tax Ireland 28/06/2018 June 2018
Goods and Services Tax

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

Tax Singapore 28/06/2018 June 2018
AML/CFT

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

Reg Luxembourg 29/06/2018 June 2018
VAT

Scope of the exemption for the management of special investment funds

Tax Belgium 02/07/2018 July 2018
Transfer Pricing

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

Tax EU 03/07/2018 July 2018
Fund Management Companies

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

Reg Ireland 05/07/2018 July 2018
VAT

Letting of a building by a holding company to its subsidiary

Tax Belgium 05/07/2018 July 2018
CbCR

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

Tax Luxembourg 10/07/2018 July 2018
CRS

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

Tax Luxembourg 10/07/2018 July 2018
EMIR

CSSF and CAA communicate on EMIR reporting

Reg Luxembourg 13/07/2018 July 2018
AGMs and ARs Timelines

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

Reg Singapore 16/07/2018 July 2018
Tax Reform

Draft Act on Various Income Tax Provisions

Tax Belgium 19/07/2018 July 2018
Financial Supervision

CSSF Forms Updates

Reg Luxembourg 20/07/2018 July 2018
Brexit

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

Reg Germany 23/07/2018 July 2018
AML/CFT

Further legislative steps (Bill 7217)

Reg Luxembourg 24/07/2018 July 2018
Brexit

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

Reg Luxembourg 25/07/2018 July 2018
AML/CFT

Further legislative steps (Bill 7216A)

Reg Luxembourg 26/07/2018 July 2018
Financial Services

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

Reg Jersey 26/07/2018 July 2018
GDPD/GDPR

Further legislative steps (Bill 7168)

Reg Luxembourg 26/07/2018 July 2018
GDPR

Further legislative steps (Bill 7184)

Reg Luxembourg 26/07/2018 July 2018
VAT

Implementation of the VAT Group law

Tax Luxembourg 26/07/2018 July 2018
VAT

VAT and immovable rent - as from 1 January 2019

Tax Belgium 01/08/2018 August 2018
Corporate Tax

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

Tax Belgium 02/08/2018 August 2018
Corporate Governance

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

Reg Singapore 06/08/2018 August 2018
AML/CFT

FSMA circular on the implementation of a risk-based approach

Reg Belgium 07/08/2018 August 2018
AML/CFT

Royal Decree approving FSMA regulation of 3 July 2018

Reg Belgium 07/08/2018 August 2018
AML/CFT

Royal Decree on the functioning of the UBO register

Reg Belgium 14/08/2018 August 2018
GDPD/GDPR

Implementing and Transposition Laws enter into force on 20 August 2018

Reg Luxembourg 15/08/2018 August 2018
Financial Supervision

CSSF Forms and FAQ Updates

Reg Luxembourg 20/08/2018 August 2018
AML/CFT

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

Reg Luxembourg 21/08/2018 August 2018
Financial Supervision

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

Reg Luxembourg 23/08/2018 August 2018
Financial Supervision

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

Reg Luxembourg 23/08/2018 August 2018
AML/CFT

FSMA circular on the periodic questionnaire

Reg Belgium 30/08/2018 August 2018
AML/CFT

Extended deadline for the UBO register

Reg Belgium 01/09/2018 September 2018
UCITS

CBI Thematic Review on UCITS Performance Fees

Reg Ireland 04/09/2018 September 2018
Corporate Structures

MAS introduces new corporate structure to enhance fund ecosystem in Singapore

Reg Singapore 10/09/2018 September 2018
AML/CFT

Law organising the FIU enters into force on 1 November 2018

Reg Luxembourg 12/09/2018 September 2018
Capital Gains Tax Forms

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

Tax Germany 12/09/2018 September 2018
AML/CFT

BaFin publishes a Circular regarding AML and high risk countries

Reg Germany 21/09/2018 September 2018
EMIR

FSMA updates its FAQ on Regulation of 17 January 2017

Reg Belgium 26/09/2018 September 2018
BEPS

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

Tax World 27/09/2018 September 2018
Corporate Structures

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

Reg Singapore 01/10/2018 October 2018
Insolvency Law

Insolvency Law - Insolvency, Restructuring and Dissolution Bill

 

All Singapore 01/10/2018 October 2018
CBCR

CbCR - Luxembourg Tax Authority updates its FAQs

TAX Luxembourg 05/10/2018 October 2018
Publicity

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

 

Reg Belgium 05/10/2018 October 2018
Fraud

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

 

Tax Belgium 05/10/2018 October 2018
Brexit

Brexit - FCA consults on temporary permissions and handbook changes 

Reg UK 08/10/2018 October 2018
Corporate Law

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

All Belgium 10/10/2018 October 2018
Venture

Venture Capital - Venture Capital Investment Model Agreements (VIMA)

 

All Singapore 24/10/2018 October 2018
MiFID II

Markets in Financial Instruments Act 2018 signed into law

Reg Ireland 29/10/2018 October 2018
Corporate Law

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

Reg Belgium 01/11/2018 November 2018
VAT

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

Tax Belgium 08/11/2018 November 2018
AML/CFT

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

Reg EU 12/11/2018 November 2018
External Management

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

Reg Singapore 13/11/2018 November 2018
AML

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

Reg Ireland 14/11/2018 November 2018
CbCR

CbCR - Automatic exchange between China and Luxembourg

Reg Luxembourg 14/11/2018 November 2018
AIFMD/UCITS

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

Reg Ireland 15/11/2018 November 2018
FATCA

FATCA - Updated FATCA registration system FAQ

Tax World 16/11/2018 November 2018
AIFMD

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

Reg Ireland 19/11/2018 November 2018
Outsourcing

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

Reg Ireland 19/11/2018 November 2018
Financial Reporting

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

Reg Luxembourg 21/11/2018 November 2018
Supervision

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

Reg France 21/11/2018 November 2018
Supervision

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

Reg France 22/11/2018 November 2018
AML/CFT

AML/CFT - Government issues Beneficial Ownership Register Policy

Reg Jersey 23/11/2018 November 2018
AML/CFT

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

Reg Belgium 29/11/2018 November 2018
NAT

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

Tax Belgium 29/11/2018 November 2018
Filing Requirements

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

Reg Singapore 30/11/2018 November 2018
Corporate Law

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

Reg Belgium 07/12/2018 December 2018
MAR

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

Reg Malta 07/12/2018 December 2018
AIFMD

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

Reg Cyprus 17/12/2018 December 2018
AML/CFT

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

Reg Luxembourg 18/12/2018 December 2018
ATAD 1

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

Reg Luxembourg 18/12/2018 December 2018
Tax Fraud

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

Tax Belgium 18/12/2018 December 2018
AML/CFT

New registration requirements for firms for Anti-Money Laundering purposes

Reg Ireland 19/12/2018 December 2018
Tax Fraud

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

Tax Belgium 20/12/2018 December 2018
AML/CFT

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

Reg Ireland 21/12/2018 December 2018
AML/CFT

Last series of comments and recommendations on NBB’s website

Reg Belgium 21/12/2018 December 2018
ATAD 1

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

Reg EU 30/12/2018 December 2018
Collective Investment Undertakings

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

Reg France 03/01/2019 January 2019
Financial Supervision

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

Reg Luxembourg 03/01/2019 January 2019
AML/CFT

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

Reg Singapore 04/01/2019 January 2019
Brexit

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

Reg Belgium 04/01/2019 January 2019
Brexit

TPR window open for notification

Reg United Kingdom 07/01/2019 January 2019
Brexit

FCA consults on contract continuity and securitisation repositories

Reg United Kingdom 08/01/2019 January 2019
AIFMD

Commission releases Report on the Operation of the AIFMD

Reg EU 10/01/2019 January 2019
Supervision

AMF unveils its priorities for 2019

Reg France 10/01/2019 January 2019
AML/CFT

MFSA develops Online Platform for Trusts Ultimate Beneficial Ownership Register

Reg Malta 11/01/2019 January 2019
Brexit

MFSA issues Circular on the UK FCA Temporary Permissions Regime

Reg Malta 11/01/2019 January 2019
Tax Fraud

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

Tax Belgium 11/01/2019 January 2019
AML/CFT

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

Reg Luxembourg 15/01/2019 January 2019
Brexit

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

Reg Ireland 17/01/2019 January 2019
AML/CFT

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

Reg Luxembourg 22/01/2019 January 2019
Brexit

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

Reg Cyprus 22/01/2019 January 2019
Brexit

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

Reg Ireland 24/01/2019 January 2019
Supervision

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

Reg France 24/01/2019 January 2019
VAT

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

Tax Belgium 24/01/2019 January 2019
Financial Supervision

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

Reg Luxembourg 29/01/2019 January 2019
Brexit

CSSF communicates on Delegation of Investment Management and TPR

Reg Luxembourg 30/01/2019 January 2019
Fees

Summary of fees due to the AMF

Reg France 31/01/2019 January 2019
Tax Fraud

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

Tax Belgium 31/01/2019 January 2019
AML/CFT

Extended deadline for the UBO register

Reg Belgium 01/02/2019 February 2019
Brexit

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

Reg Cyprus 01/02/2019 February 2019
Brexit

FCA publishes transitional power and TR arrangements

Reg United Kingdom 01/02/2019 February 2019
DRD

Draft law to activate dividend received deduction

Reg Belgium 01/02/2019 February 2019
Financial Reporting Surveillance Programme

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

Reg Singapore 01/02/2019 February 2019
Accredited Investor

Updated Definition of Accredited Investor and Opt-in Process

Reg Singapore 04/02/2019 February 2019
AIFs/UCITS

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

Reg EU 05/02/2019 February 2019
Collective Investments Undertakings

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

Reg France 07/02/2019 February 2019
Brexit

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

Reg Jersey 08/02/2019 February 2019
Collective Investments Undertakings

AMF modifies its General Regulation concerning French employee investment funds

Reg France 08/02/2019 February 2019
BTS

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

Reg Belgium 13/02/2019 February 2019
Brexit

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

Reg Malta 14/02/2019 February 2019
Multilateral Instrument

Ratification by Luxembourg

Reg Luxembourg 14/02/2019 February 2019
AML/CFT

Implementing Regulation on the BO Register published in the Memorial A

Reg Luxembourg 19/02/2019 February 2019
Regulatory Reporting

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

Reg Ireland 20/02/2019 February 2019
Brexit

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

Reg Belgium 21/02/2019 February 2019
Collective Investments Undertakings

AMF modifies its General Regulation on some provisions relating to AIFs

Reg France 21/02/2019 February 2019
AML/CFT

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

Reg World 25/02/2019 February 2019
Brexit

FCA and PRA Updates on preparations and near-final rules

Reg United Kingdom 25/02/2019 February 2019
Multilateral Convention

Draft law on the Multilateral Convention

Reg Belgium 27/02/2019 February 2019
Tax Havens

Final TAX3 Report Labels 7 EU Member States Tax Havens

Tax World 27/02/2019 February 2019
Corporate Law

Adoption of the new Code of Companies and Associations

Reg Belgium 28/02/2019 February 2019
Accounting Reporting

CSSF issues Communiqué on CNC’s Q&As

Reg Luxembourg 02/04/2019 April 2019
Fitness & Probity

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

Reg Ireland 09/04/2019 April 2019
MLI

Draft law on Multilateral instrument

Reg Belgium 09/04/2019 April 2019
Brexit

2 Laws of 8 April 2019 on measures to be taken

in relation to the financial sector published in Memorial A

Reg Luxembourg 11/04/2019 April 2019
French PACTE Draft Bill

French PACTE draft Bill was adopted at its final

reading in the French National Assembly

Reg France 11/04/2019 April 2019
Inbound Passporting

Temporary permissions regime for inbound passporting EEA firms and funds

Reg United Kingdom 11/04/2019 April 2019
CMU/PRIIPs

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

Reg EU 16/04/2019 April 2019
Regulatory Reporting

Companies (Amendment) Act 2019 (No. 10)

Reg Ireland 17/04/2019 April 2019
Sustainable Finance

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

Reg EU 18/04/2019 April 2019
AML/CFT

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

Reg Luxembourg 24/04/2019 April 2019
Financial Law

Law containing various financial provisions

Reg Belgium 25/04/2019 April 2019
Various Tax Updates

Proposal on various fiscal provisions 2019-I

Tax Belgium 25/04/2019 April 2019
Various Tax Updates

Revenue eBriefs

Tax Ireland 25/04/2019 April 2019
Budget Law

Luxembourg Budget Law 2019 voted and published in the Mémorial A

Reg Luxembourg 25/04/2019 April 2019
Variable Capital Companies

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

Reg Singapore 30/04/2019 April 2019
Corporate Law

(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

Reg Belgium 30/04/2019 April 2019
UCITS/AIFM

Authorisation requirements for management companies

Reg Belgium 10/05/2019 May 2019
AML/CFT

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

Reg Cyprus 14/05/2019 May 2019
Various Tax Updates

Law on various tax provisions

Tax Belgium 15/05/2019 May 2019
RIs

Registrar’s Interpretation No. 1 of 2019

Reg Singapore 15/05/2019 May 2019
XBRL Filing

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

Reg Singapore 16/05/2019 May 2019
Cayman Tax

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

Tax Belgium 16/05/2019 May 2019
Cross-Border Workers

Gentlemen’s agreement Belgium-Luxembourg

Tax Belgium 16/05/2019 May 2019
CRS

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

Reg Luxembourg 17/05/2019 May 2019
Dispute Resolution

Belgium implements new EU tax dispute resolution directive

Reg Belgium 17/05/2019 May 2019
AML/CFT

Annual questionnaire on anti-money laundering and terrorist financing

Reg Belgium 20/05/2019 May 2019
Income Tax Bill

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

Tax Singapore 22/05/2019 May 2019
AML/CFT

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

Reg Luxembourg 23/05/2019 May 2019
PACTE Law

PACTE Law published in the French Official Journal

Reg France 23/05/2019 May 2019
EMIR Refit

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

Reg EU 28/05/2019 May 2019
Tax Return

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

Tax Belgium 31/05/2019 May 2019
CRS

Publication of the frequently asked questions

Reg Luxembourg 03/06/2019 June 2019
AIFMD/UCITS Directive

ESMA updates its Q&As on depositary tasks and functions

Reg EU 04/06/2019 June 2019
EMIR Refit

Clearing and reporting obligation

Reg Belgium 06/06/2019 June 2019
AIFMD

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

Reg Cyprus 07/06/2019 June 2019
Intellectual Property

Administrative guidance on Luxembourg’s IP tax regime

Reg Luxembourg 08/06/2019 June 2019
PTCs

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

Reg Guernsey 11/06/2019 June 2019
EMIR Refit

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

Reg EU 14/06/2019 June 2019
AML/CFT

LBR issues further Guidance on the BO Register

Reg Luxembourg 17/06/2019 June 2019
AML/CFT

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

Reg Guernsey 19/06/2019 June 2019
Income Tax Bill

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

Tax Singapore 19/06/2019 June 2019
Investment Firms

Investment Limited Partnerships (Amendment) Bill 2019

Reg Ireland 20/06/2019 June 2019
AML/CFT

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

Reg World 26/06/2019 June 2019
GDPR

Transfers of Personal Data to Third Countries or International Organisations

Reg Ireland 26/06/2019 June 2019
Financial Reporting

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

Reg Cyprus 28/06/2019 June 2019
Intellectual Property

Administrative guidance on Luxembourg’s IP tax regime

Reg Luxembourg 28/06/2019 June 2019
Financial Supervision

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

Reg Luxembourg 01/07/2019 July 2019
PRIIPs Regulation

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

Reg Luxembourg 01/07/2019 July 2019
Brexit

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

Reg Luxembourg 15/07/2019 July 2019
SPOT Inspections

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

Reg France 15/07/2019 July 2019
CbCR

Change of the XSD scheme as from 1st August 2019

Reg Luxembourg 16/07/2019 July 2019
AML/CFT

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

Reg Cyprus 23/07/2019 July 2019
VCC

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

Reg Singapore 24/07/2019 July 2019
PACTE Law

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

Reg France 31/07/2019 July 2019

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