Bolkestein suggested the EU’s listed companies should ‘converge’ towards British and Dutch models on issues such as more powerful roles for non-executive directors and better accountability over remuneration.
National governments are being asked to follow the recommendations but they are not binding and there will be no a European code on governance, The Guardian reported.
The move comes in the face of stiff opposition from German companies, which have a poor record on transparency over boardroom renumeration.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements