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Patience is a virtue. By the law of 23 July 2015, the Chambre des Députés, 20 months after the deadline, eventually implemented the directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (so called Capital Requirements Directive IV – hereinafter called “CRD IV” or the “Directive”)(1) . The CRD IV is yet incorporated into the Luxembourg legal framework in the form of an amendment to the Law of 5 April 1993 relating to the financial sector as well as of CSSF regulations (hereinafter the “Law of 1993”).
The transposition law notably introduces a new chapter 4bis “Governance arrangements and remuneration policies” into the Law of 1993. The new article 38-6 entails provisions relating...
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