Luxembourg legal update — December 2013
Arendt & Medernach has released its Luxembourg legal update for December 2013.
- Update of the CSSF’s FAQ on securitisation — AIFM Law and securitisation vehicles
- Civil proceedings in Luxembourg more expedient
- EMIR — a labyrinth of new requirements not only for financial counterparties
- Reporting obligations under Alternative Investment Fund Managers Directive (AIFMD)
- Proposal for a regulation of the European Parliament and of the council on money market funds
- Communication from the European Commission on Shadow Banking
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Briefings from Arendt & Medernach
Section 2 of CSSF Regulation No. 13-02 relating to the out-of-court resolution of complaints will enter into force on 1 July 2014.
‘Allowances’ used as part of the fixed remuneration targeted by the European Commission, co-legislators and the EBA
The practice of introducing ‘position or role-based allowances’ is one of the elements underlined in the detailed analysis of EU banks published by the EBA.