Discover the latest initiatives recently added to our 𝗟𝗲𝗴𝗮𝗹 & 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗧𝗿𝗮𝗰𝗸𝗲𝗿. 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.

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. Check out LuxCMA’s view on the matter.

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.

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.

The establishment of an European Single Access Point (ESAP) by 2024 is a flagship action of the Capital Markets Union (CMU) Action Plan adopted by the European Commission in September 2020. Aiming to provide an EU wide access to company information, the proposed regulation could have a positive impact on local capital markets. However, a number of significant shortcomings need to be addressed in order for this objective to be obtained.

How to improve the access to capital markets by companies in the EU and on the functioning of primary and secondary markets in the EU? This is the question that LuxCMA answered through the online targeted consultation conducted by the European Commission open until 25 February 2022.

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.

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.