EC presents new corporate governance plans

The European Commission has launched the second phase of its company law and
corporate governance action plan by asking European stakeholders what needs to
be done next.

The consultation, which runs until the end of March next year, intends to
evaluate the overall aim and context of future priorities , the continued
relevance of medium and long term measures and the value of modernizing and
simplifying EU company law.

‘The first implementation phase of the Action Plan has been a real success,’
said internal market commissioner Charlie McCreevy. ‘Since May 2003, nearly all
measures scheduled for implementation in the short term have been adopted or are
in the process of adoption. But today’s context is different from the one in
which the action plan was adopted, and we need to make sure that it still
provides the most efficient response to market needs. That is why we have
launched this consultation. Expert input will be important in preparing the
strategy for EU company law and corporate governance in the coming years. Our
future action must ensure that EU businesses are properly run and competitive.’

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