Our Working Groups
Workings GroupsAbout our working groups
LuxCMA has established 8 Working Groups (WG) and Task Forces (TF) that are sponsored by members of the Board, who will ensure that everything is running smoothly. Each WG & TF elects their own Chairperson(s) who will lead the group and take care of all the organisation.
LuxCMA’s working groups and task forces focuses on facilitating the access to a wide network of capital market professionals, sharing best practices & views about the industry and it’s future, staying updated on legal and regulatory developments, setting market standards and providing input for capital markets sector proposals in cooperation with other associations to influence future policies.
Best Practice
The Best Practice WG is composed of 3 sub-groups: Accounting & Reporting ; Management & Corporate Governance ; UBO Identification & KYC. Each of them has different missions but all have the same purpose of finding practical solutions/answers to practical problems.
Infrastructure
The main purpose of the Infrastructure Working Group is to provide an information exchange forum for market infrastructure providers and users to discuss infrastructure-related developments.
In order to foster a comprehensive industry approach, ABBL and LuxCMA are jointly operating the Infrastructure Working Group, combining the expertise from both associations in a single forum.
Legal & Regulatory Watch
The main purpose of the Legal and Regulatory Watch WG is to monitor legislative and regulatory developments, both at national level and on the broader European and international level.
Our work also involves interacting with entities and associations that are involved or consulted in the policy decision making and legislative process.
In addition, the WG aims to take positions on legal questions addressed to the LuxCMA by its members and produce position papers.
Listing Act
The Listing Act WG was created to closely monitor the legislative initiative of the European Commission, called “Listing Act”, which aims to simplify the listing requirements, including post-listing, in order to make public capital markets more attractive and facilitate access to capital for SMEs.
The Listing Act proposals concern the main pillars of the EU capital markets legislation, such as the Prospectus Regulation, the Market Abuse Regulation, MiFID II, MiFIR, the Transparency Directive and the Listing Directive.
These legislative proposals may directly impact the capital markets environment in Luxembourg and it is therefore essential to track them and to adopt positions in the interests of the Luxembourg capital markets community..
NPL Directive
The primary objective of this task force is to thoroughly evaluate the NPL Directive and related legislation and subsequently develop an actionable roadmap for its implementation by the end of the year.
Securitisation
The main purpose of the Securitisation working group is to monitor and comment on the securitisation regulatory environment in Luxembourg and Europe.
It shall futher facilitate the development of a Luxembourgish market position on specific questions and interpretations and foster the the attractiveness of Luxembourg as a center to domicile, administer and/or manage regulated and non-regulated securitisation vehicles or funds.
Sustainable Finance
The main purpose of the Sustainable Finance Working Group is to identify opportunities and promote sustainable finance from a capital markets perspective, supporting the development and growth of sustainable finance in Luxembourg and abroad.
Tax
The Tax WG brings together tax experts to discuss relevant tax issues with the aim of agreeing on common market positions and providing guidance to the market in the form of position papers issued by LuxCMA.
The Tax WG aims at working closely with policymakers on questions and developments that are relevant to the Luxembourg capital market.
