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mercredi 25 septembre 2013

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Commission de Surveillance du Secteur Financier: ARM ASSET BACKED SECURITIES S.A. ("ARM")

Frequently asked questions This document must be read in conjunction with the frequently asked questions 11/31 dated 23 september 2011 and the press releases 11/36, 11/48, 12/50 and 13/04 1. What has been the outcome of the proceedings in front of the Luxembourg administrative court? On 21 August 2013 the Luxembourg administrative court of appeal has confirmed the judgment of the Luxembourg administrative first instance court concerning the CSSF’s decision of 29 August 2011 to refuse to grant a license to ARM as a regulated securitisation undertaking under the Luxembourg law of 22 March 2004 on securitisation (the “Law”). The judgment of the administrative court of appeal is final and cannot be appealed. It...

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