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The Investor Protection Bureau is charged with enforcing the New York State securities law, commonly known as the Martin Act. The Martin Act gives the Attorney General broad law-enforcement powers to conduct investigations of suspected fraud in the offer, sale or purchase of securities. Where appropriate, the Attorney General may commence civil and criminal prosecutions under the Martin Act to protect investors. The Bureau also protects the public from fraud by requiring brokers, dealers, securities salespersons and investment advisers to register with the Attorney General's Office. The Bureau's other major responsibilities include the registration of franchisors and enforcement of the Franchise Law to protect franchisees.

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Luxembourg
Voluntary National Review 2017

*Originally submitted in French and translated to English by the Secretariat

Luxembourg: a committed player in a multilateral world

Regional, European and international commitments

Implementation of the 2030 Agenda for Sustainable Development

An inclusive process

Act of 25 June 2004 on the coordination of national sustainable development policy; legal basis for institutions and instruments dealing with planning and coordination; policy coherence and coordination among interdepartmental committees.

Participation of stakeholders, including via the platform www.mengaktioun.lu. Channels for dialogue and cooperation with Cercle de Coopération, a group of non governmental organizations working in the development sector.

Carrying out a thorough review to better guide future efforts

Take stock of existing policies and international commitments that incorporate the Sustainable Development Goals, including indicators; identify gaps and draw up recommendations in preparation for the third National Sustainable Development Plan, due in 2018.

Strengthened governance for policy coherence

Through the National Sustainable Development Plan, identify policies likely to have an impact on the three dimensions of sustainable development. Good governance practices among ministries, between the State and municipalities, and between the State and the private sector.

Challenges and way forward for achieving sustainable development

Guarantee social inclusion and education for all

Tackle social exclusion, which is a political priority, through existing synergies and take action in the fields of social inclusion, integration, education and employment. Ensure that every resident can participate fully in society and engage in gainful employment.

Diversify the economy

Ensure the viability of the economic and social system through constant efforts to achieve economic diversification, focusing on the transition towards an inclusive and carbon-neutral economy based on the sustainable use of natural resources.

Guarantee sustainable mobility

Respond to the country’s growing mobility needs, which stem from demographic growth and the number of cross-border commuters in the workforce, coupled with the fact that most individuals choose to travel by car. Ensure sustainable mobility, which would have a positive impact on the quality of life of users, economic competitiveness, social cohesion and the environment, in particular air quality and greenhouse gas emissions.

Plan and coordinate land use

Address demographic growth, which has a significant impact on the sustainability of urban systems, particularly in terms of the need for housing, mobility, basic services and technical infrastructure, but also in terms of the preservation and management of nature and the protection of natural resources and biodiversity, which are threatened by fragmentation, as in many other regions around European capitals.

Prevent environmental degradation

Prevent environmental degradation, which is linked to a number of factors, including the loss and deterioration of natural habitats. This is due to the fragmentation of the countryside, which is a result of the expansion of urban areas and transport networks, changes in agricultural practices, and the drainage and conversion of wetlands and watercourses.

Protect the climate

Uphold national responsibilities under the Paris Agreement by tackling the global challenge of climate change and achieving the national objective of reducing emissions by 40 per cent by 2030 compared with 2005 levels.

Links with the Sustainable Development Goals

Luxembourg: an international player in sustainable development

Development cooperation

Eradication of poverty in the framework of sustainable development as the basis for development cooperation policy. Provision of official development assistance equivalent to 1 per cent of gross national income since 2009. Sustainable Development Goals 5, 13 and 16 as cross-cutting themes. Official development assistance as a catalyst for generating additional contributions, including from the private sector and domestic resource mobilization in the least developed countries.

Other types of financing in addition to official development assistance

Contribution of 120 million euros for international climate financing for the period 2014-2020. Development of a climate financing strategy by the Government and the financial sector in the framework of the Climate Finance Task Force. Launch of a climate finance platform in collaboration with the European Investment Bank. Planned creation of a sustainable development finance platform for Luxembourg to act as the interface between potential financial contributors (both public and private) and project directors.

Next steps and conclusions

Close coordination within the Government

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