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1. Who is ARM?
ARM is a securitisation undertaking governed by the Luxembourg law of 22 March 2004 on securitisation (the Law). It has been issuing bonds from Luxembourg since 2006 pursuant to a base prospectus first approved for the purposes of the prospectus directive 2003/71/EC on 3 August 2007 by the Irish Stock Exchange (and amended by subsequent base prospectuses issued and approved since that date). However, ARM has never obtained a licence from the CSSF nor been subject to its prudential supervision.
2. When does a Luxembourg securitisation undertaking need to apply for a licence?
Securitisation undertakings governed by the Law must be authorised and supervised...
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