2016  2015  2014

AIFMD – ESMA updates its AIFMD Q&A clarifying certain marketing aspects as well as the treatment of committed capital
Automation of financial advice – ESMA seeks stakeholders’ view on distributed ledgers
CMU – The EU Commission consults on cross border distribution of funds (UCITS, AIF, ELTIFS, EuVECA, and EuSEF)
CSDR – ESMA consults on participant default rules and procedures under CSDR
ELTIF – ESMA issues draft RTS
EMIR – ESMA updates its EMIR implementation Q&A in relation with timing of counterparty classification
EMIR – ESMA and the US CFTC established a MoU under EMIR
EMIR – EU Commission adopts delegated regulation amending the time horizons for the liquidation period for financial instruments
EMIR – The EU Commission published RTS on clearing obligation
EuSEF and EuVECA – ESMA publishes updated EuSEF and EuVECA Q&A
Financial benchmarks – Council of the EU adopts tougher rules on manipulation of market benchmarks
Financial benchmarks – ESMA consults on the benchmarks regulation
MAD II/MAR – ESMA issues communication on reference data submission under MAR
MAR – ESMA updates its MAR implementation Q&A and clarifies application to UCITS and AIF’s managers
MiFID – ESMA Q&A update on the provision of CFDs and other speculative products to retail investors
MiFID II – EU Commission adopts ITS relating to the content and format of the description of the functioning of MTFs and OTFs pursuant to MiFID II
MiFID II/MiFIR – Level 2 implementation state of play
MiFID II / MiFIR- One year delay adopted by the EU Parliament
PRIIPS - EFAMA comments on the newly issued RTS under PRIIPS

Change of VAT status of legal persons acting as Directors. Entry into force of the finance administration decision n° E.T. 125.180 of November 20, 2014

AUDIT – CSSF issues Q&A on criteria for outsourcing the internal audit function
Company Law – Law of 27 May 2016, on a new publication platform for companies and associations
Transparency directive and Prospectus directive now transposed into Luxembourg law
Luxembourg UCIs – Statistical reporting
AIFMD – CSSF sheds light on AIFs loan origination