Best Practice l Annual Securitisation Vehicles Reporting Deadlines

A new tool is now available for the LuxCMA community! You’re still unsure of precisely what you must disclose and when – it is high time to figure it out! Luckily, you don’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 you’re compliant with the annual reporting deadlines for securitisation vehicles. What you have to do and when? Let´s have a look!

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Best Practice I Guidance Note for Board Members l Accounting for Repackaging of Investment Funds

It is already a good start into the year! New document available for our followers! After the publication of the Best Practice Guidance Note on Performing loans and other receivables in mid-December, our Best Practice I Accounting & Reporting has a new gift for you! Check out today the Guidance Note focusing on the accounting methodology and different treatments for Repackaging of investment funds.

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Best Practice I Guidance Note for Board Members l Accounting for Performing Loans and Other Receivables

And finally here we are! New document available for our followers! Our Best Practice I Accounting & Reporting working group starts its gift distribution by releasing today its Guidance Note on Performing loans and other receivables accessible to all #LuxCMA followers on our website. The publication touches some interesting points regarding the accounting policy and the different treatments which apply to these receivables.

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Best Practice I Guidance Note for Board Members l Collateralised Loan Obligation (“CLO”)

It's time for a LuxCMA update! Following the entry into force of the modernised Luxembourg Securitisation Law of March 8th, 2022, find out today the latest update of the existing Guidance Note focused on Collateralised Loan Obligation ("CLO") prepared by our LuxCMA Best Practice Working Group - Management & Corporate Governance. The publication will drive you, amongst others, into the notions of investment manager, collateral administrator and collateral reporting.

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Legal & Regulatory Watch I Newsflash I MiCA Proposed Regulation: Provisional agreement reached between the Council Presidency and the European Parliament

The proposal for a Regulation on 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗶𝗻 𝗖𝗿𝘆𝗽𝘁𝗼-𝗔𝘀𝘀𝗲𝘁𝘀 (“𝗠𝗶𝗖𝗔”) is moving forward after a provisional agreement was reached between the Council presidency and the European Parliament on 30 June 2022. Our Legal & Regulatory Watch Working Group worked on this subject.

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Tax I Statement l Feedback on the Proposal for a Directive on Debt-Equity Bias Reduction Allowance (DEBRA)

On 11 May 2022, the European Commission published a Directive proposal to tackle the tax bias in favor of debt funding. The proposal includes both a notional deduction on growth in equity and an additional limitation on interest deduction for corporate income tax (CIT) purposes – the 𝗗𝗘𝗕𝗥𝗔 𝗽𝗿𝗼𝗽𝗼𝘀𝗮𝗹. The DEBRA proposal, once adopted by the Council, would have to be implemented into Member States’ national law by 31 December 2023 and should come into effect as of 1 January 2024.

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Legal & Regulatory Watch I Newsflash I Women on Boards Proposed Directive: A significant Step towards Gender Equality on Boards

Significant step towards gender equality on boards, LuxCMA welcomes the political agreement on the proposal for a Directive on improving the gender balance among non-executive directors of companies listed on stock exchanges and related measures, the so-called 𝗪𝗼𝗺𝗲𝗻 𝗼𝗻 𝗕𝗼𝗮𝗿𝗱𝘀 𝗗𝗶𝗿𝗲𝗰𝘁𝗶𝘃𝗲. Find out more about the proposed measures of this important piece of legislation in our newsflash.

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Sustainable Finance I Statement I Proposal for a EU Corporate Sustainability Due Diligence Directive (CSDD)

Published on 23 February 2022, the proposal for a 𝙉𝙚𝙬 𝘿𝙞𝙧𝙚𝙘𝙩𝙞𝙫𝙚 𝙤𝙣 𝘾𝙤𝙧𝙥𝙤𝙧𝙖𝙩𝙚 𝙎𝙪𝙨𝙩𝙖𝙞𝙣𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝘿𝙪𝙚 𝘿𝙞𝙡𝙞𝙜𝙚𝙣𝙘𝙚 is aiming to foster sustainable and responsible corporate behavior throughout global value chains. It provides for new due diligence obligations, tightening the existing requirements under the Luxembourg laws. Getting sustainability due diligence implemented is not going to happen overnight and a number of shortcomings need to be addressed in order for this objective to be obtained.

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Securitisation l Collateralised Loan Obligations (CLOs): A New Dawn for Luxembourg

Our latest paper “𝘾𝙇𝙊𝙨 : 𝘼 𝙉𝙚𝙬 𝘿𝙖𝙬𝙣 𝙛𝙤𝙧 𝙇𝙪𝙭𝙚𝙢𝙗𝙤𝙪𝙧𝙜” is now accessible to all our followers! Our Securitisation Working Group touches some interesting points regarding the amendment of the Luxembourg Securitisation Law and illustrates how its modernization is ushering in a new dawn for Luxembourg in CLOs securitisation.

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Tax I Public Consultation I LuxCMA feedback on the New EU system for the Avoidance of Double Taxation and Prevention of Tax Abuse in the field on Withholding Taxes

Cross-border investment and simplified taxation are a priority for the EU. Despite the measures taken to remove tax barriers to cross-border investment, obstacles remain in the EU. This initiative aims to introduce a common EU-wide system for withholding tax on dividend or interest payments. It will include a system for tax authorities to exchange information and cooperate with each other.

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