The European Parliamentary Financial Services Forum facilitates and strengthens the exchange of information on financial services and Europe's financial markets between the financial industry and the European Parliament
The European Parliamentary Financial Services Forum facilitates and strengthens the exchange of information on financial services and Europe's financial markets between the financial industry and the European Parliament
 
Corporate Governance - How much will change?
Introduction

Corporate governance reform has become a priority in the EU and globally. The European Commission adopted an Action Plan on Corporate Governance and Company Law which – once implemented – aims to reduce the risk of corporate scandals and remove barriers to a genuine Single Market for financial services. During the next five years the Commission will present a range of legislative and non-legislative proposals which are intended to improve shareholders right and to provide rules on corporate disclosure and transparency.

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1. Background

Corporate governance is now at the centre of the European and global political and regulatory debate. The interest stems from the recent series of high-profile corporate failures and scandals that have severely damaged investor confidence and call into question the efficiency of existing corporate governance rules. In the EU context the European Commission’s corporate governance initiatives also aim to strengthen the Single Market by reinforcing cross-border shareholder rights and corporate disclosure practices.

12 October 2004

 

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