The Luxembourg regulator has announced its refusal to grant a licence to ARM Asset Backed Securities SA (ARM). ARM, a Luxembourg special purpose vehicle, previously unregulated, was listed in Ireland and marketed its products in several countries including the UK. Following the regulatory refusal of the licence application, FSA has announced all payments from ARM are suspended. FSA is working with the Luxembourg and Irish regulators and will provide further updates as appropriate. (Source: FSA Statement on ARM)
Register Now As you are not an existing subscriber please register for your free daily legal newsfeed service.Register
If you have any questions about the service please contact firstname.lastname@example.org or call Lexology Customer Services on +44 20 7234 0606.
Luxembourg refuses application
If you are interested in submitting an article to Lexology, please contact Andrew Teague at email@example.com.
"Lexology is one of the few newsfeeds that I do actually look over as and when it comes in - the information is current; has good descriptive headings so I can see quickly what the articles relate to...
"Lexology is one of the few newsfeeds that I do actually look over as and when it comes in - the information is current; has good descriptive headings so I can see quickly what the articles relate to and is not too long."
Senior Legal Counsel, Bankwest Business
Bank of Western Australia Ltd