CRD VI Introduces New Requirements For Financial Sector M&A Transactions

The newly adopted sixth Capital Requirements Directive 2024/1619 (CRD VI), introduces (among others) new notification obligations for institutions and certain financial holding companies (the "Obliged Entities") wishing to proceed to acquisitions or divestitures of material holdings, material transfers of assets and liabilities, or mergers and divisions. Notwithstanding the existing requirements applying to acquisitions of qualifying holdings in financial sector entities provided for under the Luxembourg law of 5 April 1993 on the financial sector, as amended (LFS), which will continue to apply, the new provisions focus on the nature of the Obliged Entities as regulated entities (rather than the nature of the "target" entities as such).