Corporate Governance

The Ten Principles of Corporate Governance of the Luxembourg Stock Exchange


Corporate governance plays a crucial role in today’s capital markets. Following the adoption of the Action Plan of the European Commission in 2003, the Luxembourg Stock Exchange elaborated ten corporate governance principles applicable to Luxembourg companies whose shares are listed on the exchange.

These principles were developed in conjunction with the management of the major listed companies, while taking note of the corporate governance schemes implemented in neighbouring countries, the reflections of the European Commission and OECD standards. This was followed by a public consultation process.
The ten corporate governance principles cover the role and composition of the boards of directors of companies, as well as committees which may emanate from the boards, such as audit, remuneration and nominating committees, and the companies’ senior management. They also deal with the relations to be maintained with shareholders and investors. In practice the corporate governance principles are based on a number of recommendations and guidelines laid down for the proper implementation and application of the principles.



Legal Department

Société de la Bourse de Luxembourg S.A.
35A Boulevard Joseph II
L-2011 Luxembourg

Tel: +352 47 79 36 248 / 259
Fax: +352 47 79 36 332


Reports on the application of the Ten Principles of Corporate Governance

External Links

    ECGI (European Corporate Governance Institute)
    ILA (Institut Luxembourgeois des Administrateurs)
    TIGFI (The Institute for Global Financial Integrity a.s.b.l.)