ECSDA Enhances Governance and Aligns Articles of Association with Belgian Company Code
In a strategic move, during its General Meeting on Friday, 24 November 2023, ECSDA undertook significant changes to fortify its governance structure and bring its Articles of Association in line with the Belgian company code.
Governance Restructuring for Enhanced Efficiency
One of the notable changes includes the establishment of a more streamlined Board, comprising a maximum of 14 members (versus 30 in the past). This adjustment aims to enhance overall organizational efficiency and to align it with the best governance and decision-making practices.
Introduction of the Senior Council
To bring extensive expertise to the table for defining the CSD industry strategy, ECSDA has introduced a Senior Council of the CSD Industry, comprised of seasoned professionals known as Senior Advisors, and may invite experienced non-CSD observers to join its meetings.
These changes underscore ECSDA’s commitment to bolstering its leadership in driving the harmonisation and innovation of financial market infrastructure, rendering financial markets safer and more efficient in Europe and beyond.
Implementing these decisions, ECSDA will conduct Board elections, nominations to the Senior Council, and consideration of relevant non-CSD observers in the first half of 2024.