The Law of 10 May 2016 amending the Law of 11 January 2008 on transparency requirements and the Law of 10 July 2005 on prospectuses has been published on 12 May 2016 in the Luxembourg Official Journal. The Law implements in Luxembourg the revised Transparency Directive 2013/50/EU which prescribes rules for issuers with securities admitted to trading on an EU regulated market so that they disclose certain key information about their operations. The aim of the Law is to build sustained investor confidence and contribute to the Capital Market Union through increased transparency.
The Grand-Ducal Regulation of 10 May 2016 has been also published today. It repeals Article 2 on choice of Home Member State and Article 4 on quarterly financial reporting of Grand-Ducal Regulation of 11 January 2008 on transparency obligations.
The CSSF provides clarifications in its press release 15/49 regarding the new rules, please refer below.
