Since 12 January 2018, the Luxembourg Stock Exchange (LuxSE) has allowed the admission of securities, as defined by the LuxSE rulebook (the Rulebook), to its official list without admitting them to trading.
The law of August 1st 2001 (the “2001 Law”) on the circulation of securities and other financial instruments was already, historically, an important step towards the modernisation of financial sector legislation.
On 14 February 2018, the European Systemic Risk Board (ESRB) published a Recommendation addressed to the European Securities and Markets Authority (ESMA) and the EU Commission on actions to address systemic risks related to liquidity mismatches and the use of leverage in investment funds.
The Luxembourg Stock Exchange (LuxSE) has recently launched its Securities Official List (SOL), a dedicated section of the LuxSE’s official list. It enables issuers to admit their securities to the official list of the LuxSE without requiring such securities to be at the same time admitted to trading on one of its markets
The EU aims to equip its domestic economy with a broad and sustainable financial base by means of the Investment Plan for Europe (the “Investment Plan”). The Investment Plan promotes an investment friendly environment by establishing a true single market for capital, the so-called Capital Markets Union (the “CMU”)
Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and Repealing Directive 2003/71/EC (the PR) will, pursuant to article 49 of the PR, enter into force on July 20th 2017 and be applicable as from July 21st 2019.
On December 30th 2016, the law of December 23rd 2016 on market abuse (the “New Market Abuse Law”) entered into force. The New Market Abuse Law implements Regulation (EU) No 596/2014 of April 16th 2014 on market abuse (the “Market Abuse Regulation”), transposes Directive 2014/57/EU of April 16th 2014 on criminal sanctions for market abuse (the “Market Abuse Directive”) and Commission Implementing Directive 2015/2392 and repeals the Luxembourg law of May 9th 2006 on market abuse (the “Previous Market Abuse Law”).
Arendt & Medernach is delighted to inform you that further to discussions with the Luxembourg Commission de Surveillance du Secteur Financier (the “CSSF”), we have obtained clearance for UCITS clients to access the China Interbank Bond Market (the “CIBM”) and invest in RMB fixed income securities dealt on the CIBM, without recourse to their QFII or RQFII licenses and quotas, under the revised rules issued by the People's Bank of China (the "PBoC") this summer.
On 27 September 2016, the newly introduced Luxembourg Green Exchange went live with its unique platform (the “LGX”) with 114 listed green bonds in 19 different currencies, 25 international issuers and a total amount raised of up to $45bn and that has itself been launched by the Luxembourg Stock Exchange (the “LuxSE”). This overview introduces the main aspects of the world’s first platform having listed green financial instruments based on the related frequently asked questions of the LuxSE.
On September 29, 2016, Luxembourg Stock Exchange (LuxSE) introduced the world’s first exchange that will trade nothing but green securities, the Luxembourg Green Exchange (LGX). LGX intends to act as a gatekeeper for green bonds and other environmentally focused financial instruments by bringing them together with investors looking for diversification and ecologically sensitive placements.
