On 28 June 2014, the central bank of Luxembourg (Banque centrale du Luxembourg) (BCL) and the China’s central bank, People’s Bank of China (PBoC), signed a Memorandum of Understanding (MoU) on renminbi (RMB) clearing arrangements in Luxembourg. “The MoU aims to establish a cooperation between the two institutions in terms of oversight, exchange of information […]
CAPITAL MARKETS We reported in our Newsletter of March 2014 that on February 14th 2014, ESMA, in the context of the European Market Infrastructure Regulation (EMIR), sent a letter to the European Commission (Commission) asking for clarifications on the classification of foreign currency (FX) financial instruments. Under Directive 2004/39/EC on Markets in Financial Instruments (MiFID) […]
On February 25th 2014, the Commission de Surveillance du Secteur Financier (the “CSSF”) published an update of its Frequently Asked Questions (the “FAQ”) in relation to the law of January 11th 2008 on transparency requirements for issuers of securities, as amended (the “Transparency Law”). New FAQ 48 clarifies in which cases an issuer that benefits from an exemption set […]
January 2014 On January 15th 2014, the European Securities and Markets Authority (“ESMA”) published an update of its Questions and Answers (the “Q&A”) on prospectuses including two new questions and answers. The newly added questions and answers, Nos. 91 and 92 concern (i) the format of the individual summary for several securities and (ii) the applicable […]
Bonn Steichen & Partners visit concerns their participation to a Trade Mission on the occasion of the Luxembourg State visit. Fabio Trevisan will be the Partner who will represent them over there. Fabio will be available for meetings on Tuesday, the 20th (only after 4 o’clock PM) and Wednesday, the 21st afternoon. During this 3 […]
A few weeks ago, Dangote Industries Limited, the Nigerian holding company for the businesses of Africa’s most successful business person, announced the signing of a loan facility agreement for US$3.15 Billion to part finance the construction of a crude oil refinery with a production capacity of 400,000 barrels of crude oil and 600,000 metric tonnes […]
International Referral the global network of business lawyers, is delighted to introduce Lesley Gregory of Memery Crystal LLP. Lesley has joined the Legal network; as our exclusive Capital Markets member in England. Lesley is a Corporate Partner and Chief Executive of Memery Crystal. She specialises in corporate finance work including flotations and secondary capital raisings […]