NRF: New circular issued to resolve the VAT saga on directors' fees
Final clarity at last? Luxembourg ends long-running VAT saga on directors’ fees with new guidance and refund framework in Circular 781-2.
Frieden calls for ‘smarter’ regulation, not deregulation
Luxembourg’s Prime Minister Luc Frieden has urged European leaders to cut regulatory complexity and mobilize private capital to address the continent’s economic and security challenges, arguing that excessive bureaucracy is stifling investment.
Eltif 2.0 brings new dynamics but does not eliminate all doubts
The relaxed rules around Eltifs, the European vehicles for non-listed investments, are leading to a series of new launches. However, not all market players are equally enthusiastic. Many are still adopting a wait-and-see approach.
Esma: Further research needed for a better understanding of fund costs
Esma acknowledges that further research is necessary to obtain a more complete picture of the costs of European investment funds. The European regulator made this statement following criticism from industry association Efama regarding a recent Esma report on these costs.
Frédéric Vonner (PwC) on streamlining ESG-regulations: “More attention to transition investing needed”
The European Commission has pledged to simplify regulations for sustainable funds this year. Frédéric Vonner, sustainability expert at PwC Luxembourg, hopes that transition investments will gain more recognition in the process.
EU’s big talk on investments union still raises many questions
The European Commission has set out yet another grand vision for Europe’s capital markets. Behind the lofty rhetoric, the plan leaves a familiar set of unresolved questions.
Stock exchanges face scrutiny over soaring data fees
European stock exchanges are becoming increasingly reliant on selling market data to offset declining trading revenues, a trend that industry experts warn could hinder market growth and innovation.
EU regulators face resistance over proposed NBFI rules
Europe’s financial watchdogs are setting their sights on non-bank financial institutions (NBFIs), a sector that has grown increasingly prominent as an alternative to traditional banks in providing credit.
Loyens & Loeff: PEPP 2.0 – Opportunities for Luxembourg?
The Pan-European Pension Product (PEPP) has struggled to gain traction since its 2022 launch, but proposed reforms under “PEPP 2.0” could create significant opportunities for Luxembourg’s fund and asset management industry.
2025: The year that EU financial reforms face their real test
The European Union is preparing its next wave of financial sector reforms, and 2025 could mark a turning point.