» 06 & 07.12.2010: GUBERNA: 10th European Corporate Governance Conference - ING Brussels

On the 1st of July Belgium took over the Presidency of the Council of the European Union! As an official event under this Belgian Presidency, GUBERNA organizes the 10th European Corporate Governance Conference.

Program & Registration

» 15 & 16.11.2010: ILA/ALFI/IFBL: Seminar Roles & Responsabilities of the Directors and Managers of UCI and Other Investment Vehicles - IFBL Luxembourg

Although corporate governance is at the centre of most topical debates, members of boards of directors of undertakings for collective investment still tend to underestimate the extent of their legal, regulatory or financial responsibilities.

How to identify and manage conflicts of interests? What are the best governance practices for UCI? What are the roles of the service providers of the UCI? How to choose the members of a board of directors? How to cover liability of directors?

The purpose of this seminar will be to comment on these key issues and to consider possible lines of action.

Session consisting of 12 hours split over one and a half days:
Monday, 15th November (from 9.00 a.m. to 6.00 p.m.
Tuesday, 16th November (from 9.00 a.m. to 12.30 p.m.

Programme & Registration

» 25.10.2010: Conference "European Corporate Governance Institute/the Brookings Institution/Columbia Law School: Corporate Governance and the New Financial Regulation Complements and Substitutes?" - Bibliothèque Solvay, Bruxelles

A central theme in the outpouring of analysis on the causes of the global financial crisis is that large financial institutions created substantial amounts of systematic risk, which then was realized and nearly brought down the global financial system. Put in terms of corporate governance, two possibilities emerge. The management of large financial institutions were disloyal to their shareholders, the agents taking more risk than their principals desired, perhaps encouraged by highly incentivised compensation schemes. Alternatively, management loyally took on excessive risk, benefitting the shareholders and externalising the costs to the public. The first possibility suggests a corporate governance response in addition to reform of prudential regulation and resolution authority. The second possibility suggests greater emphasis on regulation, but with the possibility that the corporate governance system could be redesigned to internalise more systemic risk. What is the role of corporate governance in financial system reform? Are corporate governance and the new Financial Regulation complements or substitutes? If complements, how do we design their interaction?

Registration

Programme

» 13.10.2010: ecoDa reaction to the "Green Paper on Audit Policy: Lessons from the Crisis - Bruxelles

ecoDa, as the European Confederation of Director Associations, welcomes the leadership taken by
the EU-commission to launch the debate on such an important topic as audit. The lessons from the
financial crisis are very relevant to reflect on necessary adaptations of governance, including the
audit approach for financial institutions. Moreover such adaptations can also be relevant for nonfinancial
institutions, certainly the listed ones.

ecoDa reaction

» 28.09.2010: ILA/Bourse de Luxembourg - Conference "Registre de commerce et des sociétés de Luxembourg : electronic filing" - Bourse de Luxembourg

The ILA Corporate Secretary Group seeks to help the development of the Luxembourg corporate governance framework by assisting those professionals in Board support roles to better support and manage Boards through networking, education and other events.
Please feel free to forward this invitation to colleagues & friends who may have not have received this mailing. They are welcome to attend this event.
The conference will be held in English and is free of charge.

Invitation

» 28.08.2010: ILA Response to the European Commission Green Paper on Corporate Governance in financial institutions and remunerations policy

We wish to thank the EC for having issued the Green Paper. We think that this initiative was good and
useful.
In parallel to the responses given by ecoDa forwarded to the EC on July13th, ILA would like to express its support to ecoDa opinions, but to state its own views on certain matters. But before doing so, we
would like to underline some points mentioned briefly on a couple of occasions in the Green Paper. We agree entirely with a principles-based approach, the application of which can be adapted to the
"legal form, size, nature and complexity of the financial institution concerned and the various existing legal and economic models". With this in mind, we consider that some of the more detailed
suggestions in the Green Paper could not only be ineffective, but counter-productive, as outlined in our comments on the questions and proposed solutions, which form the essential part of the Paper.

ILA Response

» 08.07.2010: ILA/PwC - Conference "Liquidity Risk in Funds" - PricewaterhouseCoopers, Luxembourg

The ILA Investment Funds Committee primarily seeks to help the development of the Luxembourg corporate governance framework as it impacts the directors of Collective Investment Schemes and to provide technical and market support for directors of Luxembourg UCITS and UCIs.
The Committee aims to assist Luxembourg fund directors in the discharge of their duties both through various technical seminars, as well as the production of best practice guidance. The Committee may further engage with relevant stakeholders to support the fund directors' community in areas of common concern and will seek to foster links with equivalent bodies outside Luxembourg.

Presentation

» 15.06.2010: ILA/Bourse de Luxembourg - Conference "Pale, Male and Stale: Need for diversity in boards?" - Chambre de Commerce, Luxembourg

As a part of the revision of the Ten Principles of Corporate Governance of the Luxembourg Stock Exchange, new guidelines concerning the composition of boards were proposed. Among them, geographic as well as gender diversity appeared for the first time: "Insofar as possible the board should have an appropriate representation of both genders…". Nevertheless, we are far from the requirements of neighbouring and Nordic countries whose practices and approaches seemed to us to be a topic worth outlining.

Presentation Press Article

» 15.06.2010: ILA: Ordinary General Assembly of ILA - Chambre de Commerce, Luxembourg

Convocation

» 20.05.2010: ILA/Fedil & AMCHAM - Conference "Principles of Good Corporate Governance and Best Practices for Unlisted Industrial & Commercial Companies and SMEs" - Chambre de Commerce, Luxembourg

Presentation

» 17.05.2010: ILA - Conference "Interpretation and implementation of the CSSF’s circular letter 10/437" - Chambre de Commerce, Luxembourg

We refer to the recent circular letter 10/437 of CSSF outlining the new principles for the remuneration policies of financial institutions in Luxembourg. Since this is an important matter that concerns all of us and given the extremely tight timeframe for the implementation of the new guidelines, ILA’s Remuneration Committee has engaged in a dialogue with CSSF about the correct interpretation and implementation of the circular letter.

After thoroughly analyzing impact and consequences of the principles, we would like to discuss what their implementation means to the various types of financial institutions and to elaborate a practical guide for all our members. The Institut Luxembourgeois des Administrateurs (ILA), is pleased to invite you to present the results of our work and address open questions of ILA members.

Presentation I

Presentation II

» 18 & 19.03.2010: ILA/ALFI/IFBL - Seminar "Role and Responsabilities of the Directors and Managers of UCI - Centre de Formation IFBL/Chambre de Commerce, Luxembourg

Although corporate governance is at the centre of most topical debates, members of boards of directors
of undertakings for collective investment still tend to underestimate the extent of their legal, regulatory or
financial responsibilities.
How to identify and manage conflicts of interests? What are the best governance practices for UCI?
What are the roles of the service providers of the UCI? How to choose the members of a board of directors?
How to cover liability of directors?
The purpose of this seminar will be to comment on these key issues and to consider possible lines of action.

This interactive seminar includes theoretical basics, presentations by professionals and exchange between
participants, resolution of a specific corporate case.

Invitation

» 16.03.2010: ILA/Bourse de Luxembourg - Presentation of the “Study on monitoring and enforcement practices in corporate governance in the EU Member States” - Bourse de Luxembourg, Luxembourg

Mr Jean-Nicolas Caprasse, European Corporate Governance Head, RiskMetrics Group, and Mrs Béatrice Richez-Baum, Secretary General of ecoDa - The European Confederation of Directors' Associations will present the conclusions of this study which assesses the level of compliance of companies with the provisions of corporate governance codes and examines the availability and quality of explanations for
deviations from corporate governance codes.

Event Presentation EC Study Presentation

» 11.03.2010: ILA/PwC - "Frequently Asked Questions" - Practical Written Guidance for Directors of Regulated Luxembourg Funds - Chambre de Commerce, Luxembourg

Luxembourg Institute of Directors (ILA) Investment Funds Committee is pleased to invite you to this event.

The ILA Investment Funds Committee primarily seeks to help the development of the Luxembourg corporate governance framework as it impacts the directors of Collective Investment Schemes and to provide technical and market support for directors of Luxembourg UCITS and UCIs.
The Committee aims to assist Luxembourg fund directors in the discharge of their duties both through various technical seminars, as well as the production of best practice guidance. The Committee may further engage with relevant stakeholders to
support the fund directors’ community in areas of common concern and will seek to foster links with equivalent bodies outside Luxembourg.

Invitation

» 24.03.2010: ecoDa/KPMG - Conference "European Governance Principles for Unlisted Companies" - European Parliament, Brussels

ecoDa, the European  Confederation of Directors’ Associations is very pleased to announce the launch event of the book European Governance Principles for Unlisted Companies, that will take place in March, 24th 2010 at the European Parliament in Brussels.

The conference will consist of two Round Tables with the participation of relevant professionals of the field:

1. Governance for Unlisted Companies: the key to long term success
2. Underpinning Entrepreneurship: key governance challenges for unlisted companies  

The invitation and programme will be sent to you very soon.

Do not hesitate to contact us if you need any further information.

» 14.01.2010: ILA/KPMG - Conference "Impact of the new eighth directive law on Luxembourg Companies"- KPMG Offices, Luxembourg

The Institut Luxembourgeois des Administrateurs (ILA) - the Luxembourg Institute of Directors, in conjunction with KPMG, is pleased to invite you to a conference on the impact of the forthcoming transposition of the EU Eighth Directive on Luxembourg companies.
The conference will address the main changes to the law, who are affected by the changes /new requirements, e.g. the definitions of public interest entities retained in Luxembourg, and comparison with neighboring countries, additional requirements regarding the set up of Audit Committees within public interest entities, and available exemptions, the composition of Audit Committees, including independent members and financial experts, available tools

Presentation