MiFID/MiFIR review: Draft law introduced in Luxembourg

Luxembourg is introducing a draft law to align with new EU directives, boosting financial market transparency and fairness. Key changes include easier access to capital for SMEs and a centralized platform for financial data. These reforms strengthen Luxembourg’s position as a top European financial hub.

How will this reshape the market?

Last week, the Luxembourg government took a significant step toward strengthening financial market regulations by introducing a draft law to align national legislation with recent European Union directives and regulations. The proposed legislation aims to transpose Directive (EU) 2024/790 and implement Regulation (EU) 2024/791 (the MiFID/MiFIR Review package), which introduces new measures to enhance financial data transparency, optimize trading obligations, and prohibit payment for order flow to ensure fairer market practices.

Additionally, the law incorporates Directive (EU) 2024/2811, which simplifies listing requirements and improves research accessibility to facilitate small and medium enterprises’ access to capital markets. Another critical component is the integration of Article 3 of Directive (EU) 2023/2864, supporting the establishment of the European Single Access Point, a centralized platform providing investors with comprehensive and easily accessible financial and sustainability-related information.

By implementing these regulatory provisions into local law, Luxembourg is solidifying its position as a leading European financial hub. The new measures will ensure compliance with EU standards while fostering a dynamic and transparent investment environment. As the financial sector across the EU continues to evolve, these reforms are expected to contribute to a more integrated and efficient market structure that benefits both investors and businesses.

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Important updates to Luxembourg’s RCS and RBO

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