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ARTICLE · 26 JANUARY 2021

ESEF Implementation Delayed By 1 Year

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A 12-month grace period has been announced by the CSSF for the application of the European Single Electronic Format (ESEF) requirements in relation to annual financial reports.

LuxembourgCorporate/Commercial Law
Cédric Raffoul
Cédric Raffoul
Vanessa Freed
Vanessa Freed

A 12-month grace period has been announced by the CSSF for the application of the European Single Electronic Format (ESEF) requirements in relation to annual financial reports. These requirements will therefore apply to the annual financial reports for periods beginning on or after 1 January 2021, rather than 1 January 2020.

In its press release of 20 January 2021, the CSSF notified listed issuers of their right to delay by one year the application of the European Single Electronic Format (ESEF) requirements in relation to their annual financial reports. This decision results from the agreement of the European Parliament and the Council to amend the Transparency Directive 2004/109/EC.

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