The Chamber Of Deputies Of The Grand-Duchy Of Luxembourg Publishes Draft Law 7157 Implementing MiFID II

On 3 July 2017, the Chamber of Deputies of the Grand-Duchy of Luxembourg issued a draft law 7157 (the Draft Law) aiming at:

transposing the Directive 2014/65/EU on markets in financial instruments (MiFID II); transposing article 6 of the Delegated Directive 2017/593 (EU) and; implementing the Regulation n° 600/2014 (EU) on markets in financial instruments (MiFIR). The Draft Law transposes the provisions related to the markets in financial instruments into a specific sector law which recasts the Law of 13 July 2007 on markets in financial instruments. In addition, the Draft Law implements the provisions relating to investment services or activities by amending the Law of 5 April 1993, namely the Law on the Financial Sector (LFS).

As regards specific provisions of MiFID II having an...