Since the adoption of the new securitisation law, the LuxCMA Securitisation Task Force has been working on a paper to determine and illustrate how the implemented changes open the door to a range of new structuring options in Luxembourg. 

Prior to the release of the document in question, the aim of this webinar was to share its highlights and to analyse the main amended law caters allowing more flexibility in the set-up of new structures with a specific focus on CLO / CDOs.

At this occasion, our panelists have endeavoured to demonstrate how the modernisation of the Luxembourg law of 22 March 2004 on securitisation is ushering in a new dawn for Luxembourg in CLOs securitisation.

In case you missed it, the webinar recording is now available.

Over the past months, the LuxCMA Infrastructure Working Group has been working on a theoretical Proof of Concept document to determine and illustrate how the distributed ledger technology (DLT) can be leveraged by the entire value chain to support the issuance and servicing of a debt security in public capital markets. LuxCMA shared the highlights of the document in question during a conference event heldat the BNP Paribas Securities Services auditorium.

At this occasion, the LuxCMA has also invited representatives along the value chain, including issuers and investors, to join as part of a second panel to discuss their experience with the adoption of DLT technology in debt capital markets transactions, and share their views on the main challenges to be addressed as well as the developments to be expected moving forward.

Beyond the pleasure to be able to re-convene in person with our industry peers, the meeting offered a high-quality debate centred on what is undoubtedly one of the hottest topics in today’s capital markets and therefore attracted a lot of interest, from both within and beyond our national borders.

In case you missed it, the webinar recording is now available.

Since the enactment of the Securitisation Law, Luxembourg has proven to be one of the prime locations for securitisation transactions in Europe and has become a hub for the setup of securitisation structures.

After the release by our Securitisation task force of the impressive EU Securitisation Regulation Position Paper on 29 November 2021, the aim of this dedicated webinar moderated by Louis-Maël COGIS, Partner and Country Head Luxembourg at Simmons & Simmons, was to analyse certain recurrent questions raised in the context of the EU regulation and look at its practical application in the Luxembourg securitisation market.

Our speakers, Natalja Taillefer, Counsel at Loyens & Loeff Luxembourg, Markus Zenz, Partner at PwC Luxembourg and Thomas Tomasic, Associate Lawyer at Dechert LLP (Luxembourg) have specifically focused on tranching, risk retention and contamination.

In case you missed it, the webinar recording is now available.

The aim of this second webinar was to address the implication of the New Securitisation Law on possible securitisation structures.

Moderated by Matthieu Taillandier, Partner at Arendt & Medernach, our speakers Sara Gerling, Partner Banking & Finance at NautaDutilh Luxembourg, Markus Zenz, Director at PwC Luxembourg and Rolf Caspers, Global Head of Capital Markets at Sanne looked at the structuring aspects of the new bill. 

In case you missed it, the webinar recording is now available.

#LuxCMAWebinars #New_Luxembourg_Securitisation_Law #Bill7825

On 21 May 2021, the long-awaited modernisation of the Luxembourg Securitisation Law of 22 March 2004, was submitted to the Chambre des Députés. 

The Bill builds on the success of the existing Luxembourg Securitisation Law, clarifies this framework and, at the same time, adapts it in a flexible way to the new requirements of the securitisation market. 

The aim of this first webinar was to cover the legal and practical impact of the Luxembourg Bill 7825 on the Luxembourg capital market landscape.

Moderated by Smaïn Bouchareb, Client Relationship Director – Institutional Clients at IQ-EQ, our speakers Serge Zeien, Counsel at Allen & Overy Luxembourg, Andreas Heinzmann, Partner at GSK Stockmann and Alexandra Fantuz, Director Structured Finance and Capital Markets Services at Trustmoore looked at the legal key aspects of the new bill. 

In case you missed it, the webinar recording is now available.

#LuxCMAWebinars #New_Luxembourg_Securitisation_Law #Bill7825

On 24 September the European Commission published its second Capital Markets Union (CMU) action plan.These proposals are no surprises, as they reflect some of the shortcomings of the previous CMU. But, which market infrastructure(s) towards an efficient CMU 2.0? 

Moderated by Diane Nolan, Managing Director – Financial Services/Capital Markets at Accenture, our speakers Paula Redondo Pereira, Head of Regulatory Affairs at Luxembourg Stock Exchange, Philippe Mueller, Head of Issuer CSD Services at Clearstream, Herbert Barth, Special Advisor to the CFO at ESM - European Stability Mechanism and James Cunningham, Senior Advisor/Public Policy at BNY Mellon looked at how the CMU action plan, amongst other initiatives, aims to address some of the obstacles we are facing in becoming a “genuine single market”, through a Fixed Income lens and debated on the path towards a more efficient, integrated market infrastructure landscape in Europe.

#LuxCMAWebinars #CMU2.0 #Market_infrastructure

Explaining the structure and investor-friendly features of collateralized loan obligations. This was the aim of our webinar dedicated to this often misunderstood sector of structured credit.

Since many years, Luxembourg has established itself as one of the leading financial hubs in Europe for retail and alternative strategies. The low interest rate environment has without any doubt pushed Asset Managers to find more attractive investment solutions, namely in the alternative space. In the same time, investors are increasingly sophisticated and well informed on the various options and now request multi-strategy solutions.

Luxembourg, being the largest Capital Markets facilitator in Europe with a strong legal framework, is a natural place to offer also to CLO structures.

Our speakers Ariane Mehrshahi Marks, Counsel at Hogan Lovells (Luxembourg) LLP, Atif Kamal, Director Client Services - Capital Markets at TMF Group (Luxembourg), Marie Isabelle Richardin, Partner at PwC (Luxembourg) and Rolf Caspers, Global Head of Capital Markets at Sanne Luxembourg touched on some of the developments that they have seen over the last months.

In case you missed it, the webinar recording is now available.

In 2019, Luxembourg introduced limitations to the #deductibility of interest expenses that also apply to securitisation companies. The rules are complex and raise many questions.
Thanks to all the energy and tremendous ongoing efforts of our dedicated task force, the #LuxCMA has recently published a technical paper (available for LuxCMA members only) on how to apply these rules in a securitisation context. During this webcast moderated by Anja Taferner, Executive Director at EY Luxembourg and Holger von Keutz, Partner, Securitisation leader PwC, members of the LuxCMA - #Securitisation & #ATAD task force went through a number of issues and positions discussed in the paper.

Our speakers were Mathilde Ostertag, Tax Local Partner at GSK Stockmann, Geoffrey Scardoni, Partner at Clifford Chance Luxembourg, Marketa Stranska, Associate Director, Private Debt and Capital Markets Sanne and Gerard Neiens, Partner at Hogan Lovells (Luxembourg).

In case you missed it, the webinar recording is now available.

Transitioning to a more sustainable economy is an essential part of fighting climate change. The necessity to fund this transition has led to the creation of the concept of "Transition Finance". But what is transition finance? Where does Green Finance end and Transition Finance start?

This is one of the questions our speakers, Ulrik Fugmann, Co-Head of Environmental Strategies Group at BNP Paribas Asset Management, Laurent Morel, President and Partner at Carbon4 Finance and Paul O'Connor, Head of EMEA ESG Debt Capital Markets at J.P. Morgan unveiled during our second webinar dedicated to sustainable finance, moderated by Laetitia Hamon, Head of Sustainable Finance at Luxembourg Stock Exchange.

In case you missed it, the webinar recording is now available.

#LuxCMAWebinars #sustainablefinance #transitionbonds

Our first webinar dedicated to sustainable finance focused on the rising stars within sustainable finance products: sustainable-linked bonds, Covid-19 related bonds, EU GBS aligned bonds and transition bonds.

During this session orchestrated by the masterful hand of Chiara Caprioli, Business Development Manager at Luxembourg Stock Exchange, our speakers Aila Aho, Executive Sustainability Adviser at Nordea and TEG EU GBS Subgroup Chair, Tom Meuwissen, General Manager Treasury at NWB Bank and Farnam Bidgoli, Head of Sustainable Bonds at HSBC have explored how new products are enhancing the sustainable finance “catalogue”, looked at what makes these new products attractive for both issuers and investors, and debunked common misconceptions around sustainable finance products.

In case you missed it, the webinar recording is now available.

#LuxCMAWebinars #sustainablefinance #transitionbonds

Our second webinar focused on practical aspects of #digitalization and #tokenization in the public and Luxembourg capital markets landscape. 

Moderated by Arnaud Delestienne, Director of International Capital Markets at Luxembourg Stock Exchange, our speakers Laurent Marochini, Head of Innovation at Société Générale, Biba Homsy, independent lawyer and national expert on Blockchain, Emilie Allaert, Head of Operations and Projects at The LHoFT - Luxembourg House of Financial Technology, Raja Palaniappan, Co Founder & CEO at Origin Markets and Laurent Kratz, CEO at NEOFACTO exchanged their views on what digitalization and tokenization can bring to capital markets, considering whether they should be considered as compatible or, on the contrary, competing tools to make financial markets more efficient.

What are the opportunities on which the Luxembourg capital market should focus on? In case you missed it, the webinar recording is now available.

#LuxCMA #LuxCMAWebinars  #digitalization #tokenization

We are looking back at a thought-provoking first LuxCMA webinar marking our first anniversary! We would like to thank all speakers, Philippe Noeltner (Allen & Overy), Elisabeth Omes (Elvinger Hoss Prussen), Laurent Collet (Deloitte Luxembourg) and Stéphane Blemus (Société Générale - Forge) and attendees for making this a success.

Our special thanks go to our guest speaker, Luxembourg Minister of Finance Pierre Gramegna, who spoke about the new action plan for the Capital Markets Union, the complexity of Brexit, and the importance of a modernised legal framework, digital innovation and Sustainable Finance in strengthening and diversifying the Luxembourg economy.

Minister Gramegna stressed the crucial role that capital markets play in the recovery from the crisis and called for innovation and sustainability to be the driving forces of the industry.

Our first webinar was dedicated to #Blockchain technology and the relevant laws. The aim of the webinar was to cover the legal and practical impacts of the Luxembourg Bill 7637 on the Luxembourg capital market landscape.

In case you missed it, the webinar recording is now available.

#LuxCMA #LuxCMAWebinars #Blockchain #Luxembourg #capitalmarkets

Thank you to everyone that attended, on 2 October 2019, the LuxCMA - Luxembourg Capital Markets Association "Late Summer Drinks" inauguration event at #PwCLuxembourg.

LuxCMA´s Chairperson Julie Becker welcomed more than 80 people talking about the capital market in Luxembourg and the importance of having this association in place.

It was LuxCMA´s first event to celebrate their incorporation earlier this year and to thank all our members and working group participants for their contribution for the success of #LuxCMA.  

#LuxCMA #capitalmarkets #Luxembourg #ATAD #PD3