Enforcement of financial information

In the framework of its mission to supervise securities markets, the CSSF is responsible for the control of financial information published by issuers of securities. This activity, generally referred to as enforcement, aims to ensure compliance of financial information with applicable accounting standards.

The CSSF fulfils its enforcement diligences in accordance with the Transparency Law conferring upon the CSSF the power to control financial information published by issuers of securities governed by said law. Enforcement is, thus, a control ex post of financial information published by issuers. 


ESMA 32-63-791 - 22 October 2019 : "European Common Enforcement Priorities for 2019 annual financial reports"

ESMA 32-63-717 - 16 July 2019: "23rd Extract from the EECS's Database of Enforcement"

ESMA 32-63-743 - 15 July 2019: "Consideration on recognition of deferred tax assets arising from the carry-forward of unused tax losses in IFRS financial statements"

ESMA 32-63-672 - 27 March 2019: "Report on Enforcement activities 2018"

ESMA 32-63-503 - 26 October 2018: "European common enforcement priorities for 2018 annual financial reports"

ESMA 32-63-423 - 26 January 2018: "Accounting for Income Tax consequences of the United States Tax Cuts and Jobs Act under IFRS" 

ESMA 32-63-364 - 27 October 2017: "Results of the fact-finding exercise on disclosure of the impact of the new accounting standards in the 2016 annual and 2017 interim IFRS financial statements"

ESMA 32-67-284 - 12 July 2017: "Review of Fair Value Measurement in the IFRS financial statements"

ESMA 32-51-370 - 27 January 2017: "ESMA Guidelines on Alternative Performance Measures (APMs)"


Jérôme Tourscher


Tel.: (+352) 26 251 2587

CSSF press releases

19 December 2019: 2019 financial information published by issuers subject to the Transparency Law

19/02 - 10 January 2019: Enforcement of the 2018 financial information published by issuers subject to the Transparency Law

10 January 2019: Examination of non-financial and diversity information published by certain issuers in 2018

17/28 - 3 August 2017: CSSF findings related to the ESMA Guidelines on Alternative Performance Measures

16/46 - 22 December 2016: Compliance of the issuers with ESMA Guidelines on Alternative Performance Measures and Circular CSSF 16/636

16/29 - 24 June 2016: ESMA Guidelines on Alternative Performance Measures: new Circular CSSF 16/636