Publication
EU Emissions Trading System – What have we learned after nine months of operation?
European shipping and ships calling at EU ports became subject to the EU ETS in January 2024.
Luxembourg | Publication | June 2021
On 15 June 2021, the Commission de Surveillance du Secteur Financier (CSSF) updated its FAQs on the statuses of professionals of the financial sector (CSSF FAQs) with respect to, among other professionals of the financial sector, professionals granting, for their own account, loans to the public within the meaning of article 28-4 of the law dated 5 April 1993 on the financial sector (the LFS).
The update is important for companies who perform lending operations on a professional basis to the public, for their own account, in Luxembourg , to assess whether they would fall within the scope of application of the above provision and therefore need to obtain a license from the CSSF.
Prior to 15 June 2021, the CSSF FAQs mentioned, among others, that:
The CSSF has now given the following guidance in relation to the term “public”, by clarifying that a lending activity is not directed towards the public where:
Where the activities cannot be excluded from the scope of article 28-4 of the LFS with certainty, the CSSF will carry out an assessment on a case-by-case basis. Persons contemplating granting or acquiring loans are invited to submit a detailed description to the CSSF of the activities envisaged, allowing the CSSF to determine whether the activities to be carried out require prior authorisation.
Publication
European shipping and ships calling at EU ports became subject to the EU ETS in January 2024.
Publication
In this horizon scan, we focus on key developments affecting companies operating in the UK, including in light of the recent change in UK government.
Publication
As you begin planning for the upcoming financial year, it is likely that legal operations projects are on your radar. However, securing the necessary budget can be challenging. Our roundtable on October 1, ‘Preparing for FY2025 - Building a compelling business case’, will help you create compelling business cases for your legal initiatives.
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