European Union: Finance and Banking

Yesterday, ESMA has published a discussion paper on key concepts of the AIFMD (the "Discussion Paper") and invited comments to specific questions raised.

A recent decision of the German High Tax Court ("Bundesfinanzhof", in short BFH) is causing a major uproar among the German private equity houses and is likely to have a substantial impact - far beyond the tax implications for current fund structures - on the future of the German private equity business.

P+P has been assisting the European Venture Capital Association in drafting answers to the Consultation Papers.

Following the enactment of 'The Aircraft Registration Act' in 2010 which is designed to regulate the registration of aircraft and aircraft mortgages in Malta and also to implement the Convention on International Interests in Mobile Equipment and Protocol thereto on Matters Specific to Aircraft Equipment there has been a rapid growth in the number of aircraft registered in Malta.

On the 17 December 2010, the Irish Stock Exchange ("the ISE") published the new Listing Rules ("the Rules") which require Irish listed companies to comply or explain against additional corporate governance provisions which arise from the recommendations contained in the report on Compliance with the Combined Code on Corporate Governance by Irish listed companies ("the ISE/IAIM Commissioned Report").

In the current economic climate the possibility of defaults under loans secured on aircraft is an increasing concern for aircraft financiers.

On 27 June 2025, the CSSF published Circular 25/894, which repeals CSSF Circular 15/612. Circular 15/612 is well-known to alternative managers as it was used by Luxembourg AIFMs on a daily basis to register new AIFs that they manage with the CSSF.

The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has announced a significant overhaul of its reporting requirements for Luxembourg investment fund managers...

The ELTIF is an EEA-wide fund label designed to attract capital from EU HNWIs. In Luxembourg, structuring an ELTIF involves combining three key layers...

Arthur Cox is a principal Irish advisor in the European CLO market. From advising the pre-eminent Irish-domiciled CLO managers to developing bespoke risk retention structures in Ireland using Section 110 vehicles...

It is becoming increasingly critical to revitalise the European securitisation market in order to enhance the resilience and competitiveness of the EU's financial system.

On 17 June 2025, the European Commission introduced a package of measures to enhance the EU securitisation framework, marking the first legislative initiative under the Savings and Investments Union (SIU) Strategy.