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ARTICLE · 20 NOVEMBER 2023

The CSSF Reports On Diversity Through Its Data Collection Exercise

CMS Luxembourg
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In a press release dated 10 October 2023, the Luxembourg Commission de Surveillance du Secteur Financier presented the current state of diversity within the management bodies ...

LuxembourgCorporate/Commercial Law
Aurélien Hollard
Aurélien Hollard
Aurélia Viémont
Aurélia Viémont
Julie Pelcé
Julie Pelcé
Mélanie Poirrier
Mélanie Poirrier
Sarah Hantscher
Sarah Hantscher
Julien Robert
Julien Robert
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In a press release dated 10 October 2023, the Luxembourg Commission de Surveillance du Secteur Financier (the CSSF) presented the current state of diversity within the management bodies of less significant institutions (LSI) in a report. This report stems from the survey launched in April 2023 targeting 46 LSI and aimed at gathering additional information on the implementation of diversity policies.

The CSSF launched this survey namely to assess how the obligation of putting in place a policy promoting diversity within the management body, provided for under Article 38-2(8) of the law of 5 April 1993 on the financial sector, as amended (the 1993 Law), is implemented in Luxembourg LSI. The rationale behind this obligation is to engage a broad set of qualities and competencies when recruiting members to the management body, leading to the necessity of promoting diversity.

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