Press Release: European Commission welcomes experts’ report on company law and corporate governance

The European Commission has welcomed the final report by the High-Level Group of Company Law Experts, on a modern regulatory framework for company law in Europe, including corporate governance. The report covers the issues considered by the group under the second part of its mandate. Following the informal meeting of EU Finance Ministers in Oviedo in April 2002, that mandate was extended to cover additional corporate governance issues (role of non-executive and supervisory directors; management remuneration; responsibility of management for financial statements; auditing practices), in the light of issues raised by the collapse of Enron. The Commission is considering the presentation of an action plan for company law in early 2003.

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http://ec.europa.eu/comm/internal_market/en/company/company/modern/index.htm http://ec.europa.eu/comm/internal_market/en/company/company/modern/index.htm

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