Top 10 Finance and Banking Headlines from Europe On Monday 25 March, the FCA’s Risk Outlook and Business Plan for 2013-14 were published. On 18 April 2013 the UK government issued a legal challenge to the decision of the EU Council of 22 January 2013 which authorised a subset of the EU (not including the UK) to introduce a financial transaction tax. A discussion on a number of investigations regarding the LIBOR and EURIBOR settling process. Directive 2011/61/EU on Alternative Investment Fund Managers comes into force on 22 July 2013, and aims to provide common requirements across all EU States for the management or sale of Alternative Investment Funds by Alternative Investment Fund Managers within the EU. As the UCITS acronym suggests, its original focus was on investment in "transferable securities" although UCITS do offer far wider investment possibilities, as explained below. A discussion on the impact of the America’s FATCA regulations for trustees. The purpose of this investment memorandum is to provide an overview of the investment vehicles (i.e. regulated, lightly regulated and unregulated) that Luxembourg offers to (foreign) entrepreneurs and managers. The European Commission has published on its website answers to questions it has received on the interpretation of the Alternative Investment Fund Managers Directive. The draft legislation transposing the European Union’s Alternative Investment Fund Managers Directive into Luxembourg law was submitted to the grand duchy’s Chamber of Deputies by finance minister Luc Frieden on August 24. A report representing a compilation of views from those in our firm engaged in commodity markets. | 
