Luxembourg: developments in remuneration policy for banks, investment firms, UCITS management companies and external AIFMs
The preceding weeks have been busy in terms of legislative and regulatory work in the field of remuneration policy. In this respect, the following publications are worth mentioning: the CSSF circular regarding the European Securities and Markets Authority (ESMA) Guidelines on remuneration policies and practices (MiFID); ESMA ‘questions and answers’ on the application of the AIFMD; a CSSF circular regarding the Capital Requirements Regulation (CRR); and the submission to the Chambre des Députés of a bill of law implementing the Capital Requirements Directive (CRD 4).
This contribution briefly describes the key principles of the aforementioned publications.
The CSSF issued circular 14/585 in order to implement into Luxembourg law the ESMA Guidelines on remuneration policies and practices (MiFID), under the form of a new appendix V to CSSF circular 07/307 (MiFID: Conduct of business rules in the financial sector). As such, the CSSF circular is immediately applicable…
Click on the link below to read the rest of the Arendt & Medernach briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Arendt & Medernach
Briefings from Arendt & Medernach
Luxembourg’s advantages for companies considering locating their business here and insight into the country’s legal regime for enterprises.
The restrictive measures targeting individuals and entities for threatening or undermining Ukraine’s sovereignty and territorial integrity have been extended.