Trilogue agreement on the framework for bank recovery and resolution
By Charles Krier and Michel Bulach
On 11 December, the European Parliament and EU member states agreed on the long-awaited Bank Recovery and Resolution Directive (RRD).
The RRD is considered as one of the major steps in developing Banking Union and the Single Resolution Mechanism. It is dedicated to prevent new costs for tax payers and to restore confidence in the European financial sector by ensuring that failing banks can be reorganised in a predictable and efficient way with minimum recourse to public money…
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Briefings from Wildgen
The CSSF has issued an updated version of the FAQs relating to the Luxembourg Law of 12 July 2013 on alternative investment fund managers (the AIFM Law).
New directive would require member states to provide in their national legislation for criminal sanctions related to insider dealing, market manipulation and unlawful disclosure of inside information.