Jurisdictions

Isle of Man

Jersey

Guernsey

France

Germany

Italy

Liechtenstein

Luxembourg

Temple Partners advises on Luxembourg and EU financial services regulation, including matters within the remit of the Commission de Surveillance du Secteur Financier (CSSF) and, in relation to insurance and reinsurance, the Commissariat aux Assurances (CAA). The CSSF's supervisory remit encompasses, among others, credit institutions, investment firms, management companies, authorised AIFMs, collective investment undertakings, payment institutions, electronic money institutions and cryptoasset service providers.

Our work includes regulatory perimeter advice, authorisation and registration, regulatory applications, qualifying holdings and Change in Control, governance, approved and key function holders, compliance and risk frameworks, AML/CFT, prudential requirements, regulatory reporting, regulatory investigations and engagement with the relevant Luxembourg supervisory authorities.

Luxembourg is of particular significance to our funds and asset management practice. We advise on the regulatory requirements applicable to UCITS, Alternative Investment Funds (AIFs), Alternative Investment Fund Managers (AIFMs), management companies, depositaries and other regulated fund structures, including the application of AIFMD, AIFMD II, AIFMR, UCITS and associated Luxembourg implementing legislation and CSSF rules and guidance.

We also advise banks, credit institutions and other financial institutions on Luxembourg and EU prudential requirements, including CRR, CRD VI, the Basel Capital Accords and Basel III, as well as governance, capital, risk, regulatory reporting and cross-border requirements.

For insurers and insurance groups, our work encompasses the Solvency II framework and related Luxembourg prudential, governance, risk-management and reporting requirements supervised by the CAA.

Temple Partners also advises payment institutions, electronic money institutions, investment firms and digital asset businesses, including on the application of MiFID II/MiFIR, PSD-related requirements, MiCA, AML/CFT and associated EU and Luxembourg regulatory requirements.

For international groups, we can assist with the interaction between the Luxembourg regulatory framework and requirements arising in other jurisdictions, including cross-border services, establishment, delegation and outsourcing, fund distribution, third-country access and multi-jurisdictional regulatory transactions.

Portugal

Republic of Ireland

Spain

Switzerland

Singapore

Key Cross-Border Regulatory Frameworks

Temple Partners advises financial institutions on the application, implementation and cross-border implications of major European and international financial services regulatory frameworks, including:

CRD VI — Capital Requirements Directive VI

CRD VI is an increasingly important consideration for international banking groups and other third-country financial institutions conducting, or proposing to conduct, banking business within the European Union.

We advise on the implications of the Capital Requirements Directive VI, including the EU's framework for third-country branches, cross-border provision of core banking services, licensing and authorisation requirements, exemptions, governance, regulatory perimeter and market-access implications for non-EU institutions.

CRD VI is of particular relevance to financial institutions established in jurisdictions such as the Isle of Man, Jersey, Guernsey, Switzerland and Singapore that provide, or propose to provide, services to clients within EU Member States.

Basel Capital Accords & Basel III

We advise on international banking prudential standards concerning regulatory capital, liquidity, leverage, credit risk, market risk and operational risk, and their implementation through applicable national and regional prudential regimes.

CRR & CRD

We advise on the EU prudential framework applicable to credit institutions and relevant investment firms, including the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD) and their interaction with the Basel framework.

AIFMD & AIFMR

We advise on the Alternative Investment Fund Managers Directive and Regulation, including requirements affecting AIFMs, alternative investment funds, depositaries, delegation, governance, risk management and the marketing and management of funds on a cross-border basis.

Solvency II

We advise on the EU/EEA prudential framework for insurers and insurance groups, including capital, solvency, governance, risk management, reporting and supervisory requirements, together with relevant third-country and cross-border considerations.

MiFID II & MiFIR

We advise on European investment services and markets regulation, including authorisation, regulatory perimeter, organisational requirements, conduct of business, client classification, market structure, transparency and cross-border investment services.

UCITS

We advise on the European regulatory framework governing UCITS funds and management companies, including establishment, management, governance, delegation, distribution and cross-border requirements.

MiCA

We advise on the Markets in Crypto-Assets Regulation, including regulatory perimeter, authorisation of cryptoasset service providers, governance, conduct, prudential requirements and cross-border provision of cryptoasset services.

Temple Partners considers both the direct application of these frameworks and their implications for international and third-country financial institutions seeking access to European markets.