Arendt & Medernach

Arendt appoints four new Partners

These appointments underscore Arendt's commitment to further developing its strategy, aimed at providing clients with comprehensive guidance across all facets of their projects, showcasing the breadth of our expertise and support.

Arendt strengthens its Paris office

Adding a multidisciplinary team to the permanent presence in France

ESG in the insurance sector - EIOPA draft Opinion to combat greenwashing

On 12 December 2023, the European insurance and occupational pensions authority (EIOPA) launched a public consultation on its draft opinion on sustainability claims and greenwashing (EIOPA opinion).

DORA: 1st set of final level 2 rules for ICT/3rd risk management/incident reporting frameworks

The ESAS have published the first set of final draft technical standards under DORA aimed at enhancing the digital operational resilience of the EU financial sector.

Frankfurt office opening for Arendt

Arendt is proud to announce the launch of its new representative office in Frankfurt, Germany, in 2024.

Arendt & Medernach appoints 11 new Counsels and 22 new Senior Associates

Here are the details of the appointments within Arendt & Medernach, named Luxembourg law firm of the year 2023 by legal directory chambers and partners, and IFLR (international financial law review).

A new Governance for Arendt

Arendt appoints a new governance as of 1 April 2023 for a three-year term

Arendt appoints 10 new partners

Arendt is proud to announce the appointment of 10 new partners promoted internally within the law firm.

CSSF Thematic Review on the implementation of sustainability-related provisions in the investment...

The CSSF published a report of its Thematic Review on the implementation of sustainability-related provisions in the investment fund industry

Pillar 2 implementation in Luxembourg: Bill submitted to Parliament

On 4 August 2023, the Luxembourg government presented Bill of law no. 8292 implementing Council Directive (EU) 2022/2523 of 14 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union.

Updated rules for sporting leave

More employees will be entitled to sporting leave from 1 January 2024

New rights to special leave and flexible working arrangements

Employees will soon be entitled to two new forms of special leave and to request flexible working arrangements in order to enjoy a better work-life balance. Same-sex couples will be able to take 10 days of special leave for the birth of a child.

Directors’ fees not subject to VAT according to Advocate General

AG Kokott opined that activities of independent directors not subject to VAT (CJEU Case c-288/22, opinion delivered on 13 july 2023).

Modernisation of law regulating access to professions of craftsman, trader, manufacturer...

On 21 July 2023, Parliament adopted a set of amendments to the law of 2 September 2011 regulating access to the professions of craftsman, trader, manufacturer, and certain liberal professions, as amended (Law).

“Fine-tuning” the law on commercial companies

On 19 July 2023, the Luxembourg Parliament adopted a law (Law) that aims to correct certain clerical errors and inconsistencies following 2016’s significant reform modernising the law of 10 August 1915 on commercial companies (Company Law).

European & Luxembourg Tax News

Several tax measures have been introduced, potentially impacting taxpayers with operations in Luxembourg. The following newsflash summarises the most important developments.

AIFMD 2.0 – provisional agreement reached

On 20 July 2023, the Council of the EU announced that a provisional political agreement (“Provisional Agreement”) had been reached with the EU Parliament on the review of the Alternative Investment Fund Managers Directive, as amended (“AIFMD”).

Money laundering and terrorism financing risks for payment institutions

On 16 June 2023, the European Banking Authority (“EBA”) published a report on money laundering and terrorist financing risks associated with EU payment institutions. The report finds that these risks may not be assessed and managed effectively by stakeholders.

Arendt & Medernach has been named Benelux Law Firm of the Year 2022

We are pleased to inform you that Arendt has won this major award at The Lawyer European Awards 2022. It is the second time that the firm wins this title (also won in 2020).

Stéphanie Lhomme joins Arendt Regulatory & Consulting

Stéphanie Lhomme joins Arendt Regulatory & Consulting to enrich Arendt’s financial crime and forensic investigations offering.

Issuance of dematerialised securities using blockchain technology

The 2021 Law stems from bill of law no. 7637, which was filed with Parliament on 27 July 2020 (see our newsflash of 30 July 2020 for more information).

Listed companies: ESEF requirements delayed by one year

The application of these requirements has thus been delayed by one year for issuers whose home Member State is Luxembourg pursuant to the Luxembourg law of 11 January 2008 on transparency requirements for issuers, as amended (the “Transparency Law”). Consequently, these requirements will first apply

New law on payments to EU ‘black-list’ countries

The bill adds a paragraph to Article 168 of the Luxembourg income tax law (the “LITL”) extending non-tax-deductibility to interest and royalties due to a related party established in a country or territory appearing on the EU list of non-cooperative jurisdictions1 (the “EU list”).

Declaration of general obligation of the agreement dated 20 October 2020 on the legal regime of tele

The Grand-Ducal regulation of 22 January 2021, published in the Mémorial A n° 76 de 2021, declared the new agreement on the legal regime of teleworking signed on 20 October 2020 between the social partners to be obligatory.

Bill of law passed approving the Protocol to the Luxembourg-Russia Tax Treaty

At the request of the Russian authorities, Luxembourg and the Russian Federation agreed to amend the Treaty, signing the Protocol on 6 November 2020. The Protocol reflects the new fiscal policy of the Russian Federation with regard to the levy of Russian withholding taxes, and provides for new rates

Law on electronic media amended to meet today's audiovisual needs.

The law of 26 February 2021 amending the law of 27 July 1991 on electronic media (the “Electronic Media Law”) and implementing the Audiovisual Media Services Directive was adopted on 26 February 2021 to implement (faithfully) the so-called Audiovisual Media Services Directive.

Online intermediation services: new law for implementing the Platform-to-Business Regulation

On 14 March 2021, the law of 5 March 2021 on certain rules for the implementation of Regulation (EU) No 2019/1150 of the European Parliament and of the Council of 20 June 2019 on promoting fairness and transparency for business users of online intermediation services (the “P2B Regulation”) (hereinaf

Council of the EU adopts DAC7

DAC7 extends the existing EU tax transparency rules to digital platforms. Broadly speaking, it requires platform operators to report information on income earned by sellers on their platforms, and Member States to automatically exchange this information. The objective is to enable local tax authorit

• Anti-money laundering and counter terrorist financing – mandatory survey due in March 2021

The objective of the AML/CFT Survey is to collect key standardised information on the money laundering and terrorist financing (“ML/TF”) risks to which professionals under CSSF supervision are exposed, and on the implementation of measures to mitigate these risks. This cross-sectoral survey contribu

Arendt acquires digitalisation and robotisation specialist Mobilu

The acquisition forms part of the ongoing development of the Arendt group business lines that work closely with its legal practice.