Luxembourg - The law implementing the EU Benchmarks Regulation in Luxembourg

On 22 March 2018, draft Bill 7164 implementing Regulation (EU) No 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (the “Benchmarks Law”) was adopted. By such law, the competent Luxembourg authorities in charge of ensuring the respect of the Benchmarks Regulation have been designated and investigation, supervision and sanctions powers along the