Legal & Regulatory Watch I Tracker I Monthly Update

Discover the latest initiatives recently added to ourย ๐—Ÿ๐—ฒ๐—ด๐—ฎ๐—นย &ย ๐—ฅ๐—ฒ๐—ด๐˜‚๐—น๐—ฎ๐˜๐—ผ๐—ฟ๐˜†ย ๐—ง๐—ฟ๐—ฎ๐—ฐ๐—ธ๐—ฒ๐—ฟ. This useful tool has been designed to inform of potential and/or upcoming developments in the capital markets legal and regulatory landscape with a particular focus on draft laws, open consultations and calls for evidence. The tracker will be updated on a monthly basis. We encourage all interested parties to explore this valuable resource and reach out to info@luxcma.lu if you are interested in assisting the LuxCMA in responding to consultations, commenting on draft laws or similar initiatives.

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Best Practice l Guidance Note for Board Members l Financial Statements & Disclosures

This new publication aims to provide clarity and advice to stakeholders using the financial statements of Financial Vehicle Corporations (FVCs). It also aims to harmonise the level of disclosure in the financial statements of FVCs across the market.

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Best Practice I Guidance Note for Board Members I Securitisation of Non-Performing Loans (“NPLs”)

You'll have noticed! Non-performing loans (NPLs) are one of the hottest topics in the capital markets sphere at the moment, following the recent adoption of the relevant directive by the European Union. Today, our Best Practice I Management & Corporate Governance subgroup is therefore pleased to share with you its Guidance Note on Securitisation of Non-Performing Loans!

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Best Practice I Guidance Note for Board Members l Direct lending with Securitisation Vehicle as Originator

We are pleased to share with you today our latest documentย ๐—š๐˜‚๐—ถ๐—ฑ๐—ฎ๐—ป๐—ฐ๐—ฒย ๐—ก๐—ผ๐˜๐—ฒย ๐—ณ๐—ผ๐—ฟย ๐—•๐—ผ๐—ฎ๐—ฟ๐—ฑย ๐— ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ๐˜€ย focusing on ๐——๐—ถ๐—ฟ๐—ฒ๐—ฐ๐˜ย ๐—น๐—ฒ๐—ป๐—ฑ๐—ถ๐—ป๐—ดย ๐˜„๐—ถ๐˜๐—ตย ๐—ฆ๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ถ๐˜๐—ถ๐˜€๐—ฎ๐˜๐—ถ๐—ผ๐—ปย ๐—ฉ๐—ฒ๐—ต๐—ถ๐—ฐ๐—น๐—ฒย ๐—ฎ๐˜€ย ๐—ผ๐—ฟ๐—ถ๐—ด๐—ถ๐—ป๐—ฎ๐˜๐—ผ๐—ฟ. Main parties involved, lending process and much more! Dive in this paper and find all the answers to your questions.

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Legal & Regulatory Watch I Newsflash l Update on European Green Bonds Standard

Recently, the Council of the European Union (EU) officially passed the Regulation on European Green Bonds, including optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds.ย Check outย LuxCMAโ€™s view on the matter.

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Tax I Newsflash I EU Commission referring Luxembourg to the CJEU for failing to correctly transpose ATAD

Attention all Luxembourg tax professionals! We have entered the next chapter in the discussion on the exclusion of Securitisation Vehicles covered by the Anti-Tax Avoidance Directive (ATAD1). The LuxCMA has just released a statement addressing the recent news of the European Commission referring #Luxembourg to the Court of Justice of the European Union for failing to correctly transpose ATAD.

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Best Practice I Guidance Note for Board Members | Securitisation of Receivables

We are pleased to announce today the release of our latest publication on ๐—ฆ๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ถ๐˜๐—ถ๐˜€๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐—ผ๐—ณ ๐—ฅ๐—ฒ๐—ฐ๐—ฒ๐—ถ๐˜ƒ๐—ฎ๐—ฏ๐—น๐—ฒ๐˜€. This is a timely topic as companies look for innovative solutions to manage their cash flow and liquidity in these challenging times. In this guidance note, our Best Practice I ๐— ๐—ฎ๐—ป๐—ฎ๐—ด๐—ฒ๐—บ๐—ฒ๐—ป๐˜ & ๐—–๐—ผ๐—ฟ๐—ฝ๐—ผ๐—ฟ๐—ฎ๐˜๐—ฒ ๐—š๐—ผ๐˜ƒ๐—ฒ๐—ฟ๐—ป๐—ฎ๐—ป๐—ฐ๐—ฒ sub-group looks at the complex world of securitisation and how it can be leveraged to unlock the value of receivables. Mechanism, parties involved and more! Dive in it and find practical guidance on how companies can navigate this potentially game-changing financing option for many businesses. Thank you to our LuxCMA contributors for joining the conversation on this important topic. Feel free to share this publication with your colleagues and network! And if you have any questions, suggestions or comments, please feel free to contact us at info@luxcma.lu.

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Listing Act | Statement I LuxCMA Feedback on the European Commission Listing Act Proposal

On 7 December 2022, the European Commission put forward measures to make public markets more attractive for EU companies and facilitate access to capital for small and medium-sized enterprises. The overall objective is to introduce technical adjustments to the EU rulebook that reduce regulatory compliance costs, streamline the listing process and enhance legal clarity while ensuring an appropriate level of investor protection and market integrity.

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Best Practice l Annual Securitisation Vehicles Reporting Deadlines

A new tool is now available for the LuxCMA community! Youโ€™re still unsure of precisely what you must disclose and when โ€“ it is high time to figure it out! Luckily, you donโ€™t have to pull an all-nighter trying to make sense of it. In this timeline, our Best Practice I Management & Corporate Governance sub-group has listed what you have to disclose and when to make sure youโ€™re compliant with the annual reporting deadlines for securitisation vehicles. What you have to do and when? Letยดs have a look!

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