Bertrand Mariaux - Mastering Luxembourg's Asset Management Corporate Governance, Regulatory & Compliance Environment

MiFID II Compliance | Financial Regulation

Gouvernance des produits MiFID II au Luxembourg : l’article 9, point de contrôle du distributeur
ByBertrand Mariaux 01/06/202601/06/2026

Le règlement grand-ducal du 30 mai 2018 fixe, à son article 9, les obligations de gouvernance des produits applicables aux distributeurs au Luxembourg. L’article 9 s’applique lorsque les établissements de crédit et les entreprises d’investissement décident quels instruments financiers et services d’investissement ils entendent offrir ou recommander. Les services d’investissement visés sont ceux énumérés à…

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Financial Regulation | MiFID II Compliance

MiFID II Product Governance in Luxembourg: The Article 9 Distributor Control Point
ByBertrand Mariaux 31/05/202631/05/2026

The Grand-ducal Regulation of 30 May 2018 contains the Luxembourg distributor control rule in Article 9. Article 9 applies when credit institutions and investment firms decide which financial instruments and services they intend to offer or recommend to clients. Under the ESMA Guidelines, manufacturers create, develop, issue or design products. Distributors offer, recommend or sell…

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Banking & Financial Services Regulation | Private Banking & Wealth Management

Crédit à la consommation au Luxembourg : application de la CCD2 le 20 novembre 2026
ByBertrand Mariaux 29/05/202629/05/2026

Préparez-vous au cadre CCD2 crédit consommation Luxembourg. Les banques doivent évaluer la solvabilité et adapter la documentation avant le 20 novembre 2026.

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Private Banking & Wealth Management | Banking & Financial Services Regulation

Luxembourg Consumer Credit: CCD2 Application 2026
ByBertrand Mariaux 28/05/202628/05/2026

Directive (EU) 2023/2225 of 18 October 2023 on credit agreements for consumers (the “CCD2”) governs the updated Luxembourg consumer credit CCD2 regime applying from 20 November 2026. Luxembourg bill of law 8708 remains in parliamentary process as part of the national implementation work. Banks must systematically update pre-contractual disclosures, align templates with the EUR 1–100,000…

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Lombard Lending & Financial Collateral

Luxembourg Financial Collateral Pledge: Enforcement and Insolvency Protection
ByBertrand Mariaux 27/05/202627/05/2026

A Luxembourg financial collateral pledge works only if three legal tests are satisfied: (i) the collateral must fall within the 2005 Law as financial instruments or claims; (ii) for shares, bonds or fund units held in a securities account, the pledge must appear in the account or custodian records; and (iii) the documents must allow…

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Private Banking & Wealth Management | Banking & Financial Services Regulation

Luxembourg Cross-Border Private Banking Regulatory Framework
ByBertrand Mariaux 26/05/202626/05/2026

A Luxembourg authorisation does not allow the same private-banking services in every client country. The EEA passport gives access, but country-by-country rules still shape client contact, advice, products, marketing and file evidence.

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Private Banking & Wealth Management

Marketing Communications in Luxembourg Private Banking: MiFID II, PRIIPs and Fund Marketing
ByBertrand Mariaux 25/05/202625/05/2026

Luxembourg private-banking communications may trigger MiFID II, PRIIPs and fund-marketing rules depending on the product, the client and the bank’s role. The key discipline is documentary: align the communication, approve the version and preserve evidence.

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MiFID II Compliance

MiFID II Client Classification in Luxembourg Private Banking
ByBertrand Mariaux 25/05/202625/05/2026

A practical guide to MiFID II client classification in Luxembourg private banking, covering retail clients, professional clients, opt-up criteria, eligible counterparties and conduct obligations.

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Uncategorized

Consumer Credit Directive II: Luxembourg Consumer Credit Products Must Be Remapped Before 20 November 2026
ByBertrand Mariaux 24/05/202624/05/2026

From 20 November 2026, Directive (EU) 2023/2225 replaces Directive 2008/48/EC. This is the Consumer Credit Directive II (CCD2). It applies across the European Union. Luxembourg’s national transposition track is bill of law 8708. The bill is currently in parliamentary committee. The adoption date of bill 8708 is not yet confirmed. Key Takeaways Scope expansion. The…

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Banking & Financial Services Regulation

Retail Account Closure in Luxembourg: Termination Rights Under Payment Services Law
ByBertrand Mariaux 22/05/202622/05/2026

Closing a retail payment account in Luxembourg is a legal exercise before it is an operational one. The Luxembourg Law of 10 November 2009 on payment services (the Payment Services Law) regulates the payment-services framework contract: the durable contractual arrangement covering recurring services, including transfers, cards, direct debits, and standing orders. For ordinary termination under…

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