Regulatory Framework

OAMOAM

Issuers which fall within the scope of the transparency law are obliged to provide periodic and ongoing information, described as “regulated information”

 

Issuers whose transferable securities are traded on a regulated market and are within the competence of the Luxembourg supervisor, the Commission de Surveillance du Secteur Financier (CSSF) are subject to certain obligations to provide information under the Law of 11 January 2008 (as amended) concerning transparency requirements for issuers of transferable securities (the Transparency Law). The principal object of this law is to transpose into Luxembourg law the Directive 2004/109/CE of the European Parliament and Council dated 15 December 2004 on the harmonisation of transparency obligations.

Issuers which fall within the scope of application of the Transparency Law are obliged to provide periodic and ongoing information, described as “regulated information”. In particular, regulated information includes, among others, periodic financial reports, information to be provided with regard to major holdings and privileged information (see CSSF Circular 08/337).

In addition to the drafting and preparation of documents relating to regulated information, the Transparency Law requires issuers:

  • to publish regulated information (see also the Financial News Service of the LuxSE)

  • to provide that information to an officially appointed mechanism for the central storage of regulated information (OAM)  and

  • to file the regulated information with the CSSF.

CSSF Circular 08/337 (as amended) relating to the entry into force of the Law and the Grand Ducal Regulation on Transparency presents more detailed information on the conduct to be adopted in order to fulfil those three obligations indicated above.

The Grand Ducal Regulation of 3 July 2008 relating to the official appointment of mechanisms for the central storage of regulated information conferred upon the Luxembourg Stock Exchange the status of officially appointed mechanism for the central storage of regulated information.

CSSF Circular 08/359 specifies the quality standards which the Luxembourg Stock Exchange must implement in order to perform its task as an officially appointed mechanism for the central storage of regulated information.

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Contact

Officially Appointed Mechanism (OAM) in Luxembourg

Société de la Bourse de Luxembourg S.A.

  • Jerry Hoffmann

Tel: +352 47 79 36 338

  • Tom Schmit

Tel: +352 47 79 36 223

oam@bourse.lu

Documents