governance

The EU AI Act, DORA, and MiCA: The Emerging Structure of Board Accountability in Digital Regulation

Denis de Montigny PhD, CFA Introduction With the adoption of the EU AI Act, DORA (Digital Operational Resilience Act), and MiCA (Markets in Crypto-Assets Regulation), the European regulatory framework has expanded in scope and complexity. Each regulation addresses distinct technological domains—artificial intelligence, ICT resilience, and crypto-assets—but together they introduce a coherent supervisory approach: one that […]

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Board-Level AI Oversight and Independent Director Responsibilities in Light of the 2025 CSSF/BCL Review

Denis de Montigny PhD, CFA Introduction In May 2025, the Banque Centrale du Luxembourg (BCL) and the Commission de Surveillance du Secteur Financier (CSSF) published their second thematic review on the use of artificial intelligence in Luxembourg’s financial sector. The scope was significantly expanded compared to the 2023 review, and now provides the most comprehensive

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