Transparency Law - CSSF Enforcement

The CSSF has published Press Release 15/01 to the attention of issuers of securities subject to the law of January 11th 2008 on transparency requirements for issuers of securities, as amended (hereafter referred to as the "Transparency Law"). The CSSF wishes to highlight to those issuers preparing their 2014 financial statements in accordance with International Financial Reporting Standards ("IFRS") a number of points that shall be the subject of specific monitoring by the CSSF during 2015, more specifically:

  • the new consolidation standards which are effective since January 1st 2014, specifically IFRS 10 "Consolidated Financial Statements", IFRS 11 "Joint Arrangements" and IFRS 12 "Disclosure of Interests in Other Entities";
  • the recognition and measurement of deferred assets;
  • the impairment of intangible assets;
  • the quality of information disclosed on the methods and assumptions used for measuring fair value in accordance with the IFRS requirement of "Fair Value Measurement"; and
  • the relevance and completeness of the sensitivity analyses disclosed in the financial statements.