Bank -en Krediet recht

Recovery and resolution of credit institutions and investment firms
27/08/2014

On 12 June 2014, Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations 1093/2010 and 648/2012 was published in the Official Journal of the European Union.

New deposit guarantee schemes Directive
25/08/2014

On 12 June 2014, Directive 2014/49/EU on deposit guarantee schemes (the “DGS Directive“) was published in the Official Journal of the European Union. It forms part of the measures adopted in the aftermath of the financial crisis in an effort to establish a banking union and aims to further strengthen the protection of depositors.

Market abuse: a new framework in the European Union
01/08/2014

A new framework applicable to market abuse prohibition and prevention has been adopted by the European institutions. It consists of Regulation 596/2014 on market abuse (the "MAR") and of Directive 2014/57/EU on criminal sanctions for market abuse (the "Sanctions Directive")

Marketing by non-EU AIFMs in Luxembourg
23/07/2014

On 18 July 2014, the CSSF published guidance on the procedure to be followed in order for a non-EU AIFM to market its AIFs to professional investors in Luxembourg without the passport.

The CSSF confirmed that marketing by non-EU AIFMs in Luxembourg may start upon sending a simple notification email to the CSSF together with an information form ("Marketing Information Form"). The Marketing Information Form, which contains the information to be provided to the CSSF, can be downloaded from the CSSF website. A scanned version of this form, duly completed, dated and signed, must be attached to the email sent to the CSSF. There is no obligation for the non-EU AIFM to wait for a response from the CSSF before marketing its AIFs to professional investors without the passport

Jurisprusdence bancaire luxembourgeoise (mars 2011 - mars 2012)
30/01/2013

Chronique de jurisprudence de droit bancaire luxembourgeois (mars 2011 - mars 2012)

Comme cela fut le cas précédemment, la présente chronique aura pour objectif de rendre compte des décisions des juridictions luxembourgeoises intervenues en ce qui concerne les activités des établissements de crédits, sans néanmoins déborder sur la matière du droit financier au sens général du terme, ou, à tout le moins, en ne tenant compte que des décisions relevant directement des activités bancaires en cette matière.

CSSF REGULATION N° 12-01
13/09/2012

Long awaited CSSF regulation n° 12-01 regarding risk management and conflict of interests has been issued and lays down detailed rules for the application of article 42bis of the amended Luxembourg law of 13 February 2007 relating to specialized investment funds.

NEW CSSF CIRCULAR 12/540 REGARDING DORMANT SUB-FUNDS OF UCIS
16/07/2012

The new CSSF circular 12/540 has been issued on 9 July 2012 and provides clarification on the situation of dormant sub-funds of undertakings for collective investment ("UCI") subject to the Luxembourg law of 17 December 2010 on undertakings for collective investment or the Luxembourg law of 13 February 2007 on specialized investment funds, as amended.