Publication of the revised version of “The Ten Principles Of Corporate Governance Of The Luxembourg Stock Exchange”
Publication Of The Revised Version Of “The Ten Principles Of Corporate Governance Of The Luxembourg Stock Exchange”
“The Ten Principles of Corporate Governance of the Luxembourg Stock Exchange” has recently undergone a general revision and the new version is now available. This revised version has been validated by the board of directors of the Luxembourg Stock Exchange and enters into force on 1 October 2009.
Two years following the implementation of the original corporate governance principles, the Luxembourg Stock Exchange deemed it necessary to update them. In cooperation with a group of experts composed of representatives of listed companies, it embarked on a process of reflection and reformulation of these principles. The main aim of the process was the adaptation of the principles to current legal practices and international business realities.
Nevertheless, the new version has maintained the original structure of the ten principles by continuing to rely on three sets of rules: principles (“comply”); recommendations (“comply or explain”), that is to say apply or explain if they do not apply; and finally guidelines. These ten principles therefore represent a framework of corporate governance that is highly flexible and suitable for all types of businesses operating in Luxembourg.
The electronic version in French of this new brochure is available on the website at www.bourse.lu. The English version will be available soon.
To mark the publication of the revised version of the “Ten Principles of Corporate Governance of the Luxembourg Stock Exchange”, the Luxembourg Stock Exchange is organising, together with the Institut Luxembourgeois des Administrateurs (ILA), a morning talk entitled “The revision of the ten principles of corporate governance of the Luxembourg Stock Exchange” which will take place on Tuesday, 20 October 2009 in its premises.