Read more about the article Infrastructure l Recommendations for a smooth transition to risk-free rates

Infrastructure l Recommendations for a smooth transition to risk-free rates

With the announced discontinuation date for London Inter-bank Offered Rates (LIBOR) at the end of 2021, LuxCMA - Luxembourg Capital Markets Association invites the different stakeholders across the securities value chain, from issuers to investors, to consider taking the necessary actions in order to ensure, where appropriate, a smooth transition to Alternative Reference Rates (ARR) / Risk-Free Rates (RFR) in replacement of Interbank Offered Rates (IBOR), in both their existing and future securities issuance legal documentation.

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Read more about the article LuxCMA held its second General Assembly

LuxCMA held its second General Assembly

Our second Annual General Assembly was held on 15 June 2021. As last year, it was conducted by videoconference, given the reinforcement of health protocols and the intensification of measures in the days leading up to this event. Even though the year 2020 has shaken the global economy and the world of work to an unprecedented degree, it is clear that LuxCMA has nevertheless managed to navigate through the crisis and give the association a great deal of momentum.

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Read more about the article Supervisory convergence and the single rulebook l LuxCMA responses to EU Commission Consultation

Supervisory convergence and the single rulebook l LuxCMA responses to EU Commission Consultation

On 21 May 2021, LuxCMA - Luxembourg Capital Markets Association responded to the European Consultation on supervisory convergence and the single rule book, which was published by the European Commission on March 2021. This consultation aimed to gather targeted views on certain aspects related to the 2019 ESAs review and will contribute to a wider debate on supervisory convergence and the single rulebook.

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Read more about the article AIFMD review l LuxCMA responses to securitisation-related questions in European Commission Consultation

AIFMD review l LuxCMA responses to securitisation-related questions in European Commission Consultation

On 29 January 2021, LuxCMA responded to the consultation on the review of the Alternative Investment Fund Manager Directive (AIFMD), which was published by the European Commission in October last year.

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Read more about the article FAQ Sustainable Finance

FAQ Sustainable Finance

As announced end October during our first webinar dedicated to sustainable finance (video recording available on section Past events of our website), congratulations to our task force Sustainable Finance for the release today of the FAQ dedicated to this topic. The FAQ will be updated on a regular basis, with additional questions, notably those that members may have asked to LuxCMA on this topic.

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Read more about the article ATAD l LuxCMA technical position paper

ATAD l LuxCMA technical position paper

Our technical position paper, which was accessible to our LuxCMA members only, is now available to everyone! Congratulations again to our Direct Tax Working Group (previously #Securitisation & #ATAD Task Force) for the release on 26/10/2020 of the impressive technical position paper on #deductibility of payments by securitization companies financed by debt.

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Read more about the article ATAD l LuxCMA’s view to the EU Commission formal notice sent to Luxembourg to amend its legislation transposing the Anti-Tax Avoidance Directive

ATAD l LuxCMA’s view to the EU Commission formal notice sent to Luxembourg to amend its legislation transposing the Anti-Tax Avoidance Directive

On 14 May 2020, the European Commission announced that it decided to send a letter of formal notice to Luxembourg asking it to correctly transpose the interest limitation rule of the Anti-Tax Avoidance Directive (Article 4 of the Council Directive (EU) 2016/1164). Under current Luxembourg law, securitization companies covered by Regulation (EU) 2017/2042 of 12 December 2017 (EU Securitization Regulation) are excluded from the scope of the interest limitation rules. If Luxembourg does not act within the next four months, the European Commission may send a reasoned opinion to the Luxembourg authorities.

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