Calls grow to enforce EU-wide company bans
National company office-holding disqualifications should be enforced across the European Union to prevent corruption, a European Commission policy paper has suggested.
Link: Plans afoot to fast track company law changes
Such orders are currently limited to the territory of a member country that made them, but the Commission has suggested that ‘certain categories of disqualifications should be recognised and enforced throughout the EU’.
It promised to follow up the issue this year with firm proposals improving the circulation across Europe of information on criminal convictions and office-holding bans.
The paper also suggested an EU law telling member states to fine companies tainted by corruption and crime at an ‘effective, proportionate and dissuasive’ level, citing ‘corporate liability’.