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After the G20’s resolutions and European Commission’s communication of December 2010 in favour of strengthening the penalties imposed in banking and financial law, several European Union (hereafter “EU”) legal provisions are now containing a whole series of measures of an administrative or even a criminal nature. After CRD IV and market abuses, the funds industry is not spared from the application of these penalties anymore. We are witnessing a real paradigm shift in this field reinforced by the fact that the CSSF is under a growing pressure from the EU and international bodies to enforce more rigorously EU banking and financial Law.
The contribution below is based on a conference organised by Arendt Medernach on 2 May 2016 for the funds industry who is having to...
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