Press Release: Company law and corporate governance: Commission takes action to ensure that the Czech Republic, Luxembourg, Portugal and Spain implement EU laws

The European Commission decided to refer four Member States to the European Court of Justice over failure to implement into national law certain Internal Market Directives in the area of company law and corporate governance. The Commission will refer Luxembourg to the Court over its non-implementation of the Cross-Border Mergers Directive and of the Directive simplifying the formation, maintenance and alteration of companies' capital. With regard to the latter Directive, Portugal and Spain will also be referred to the Court. The Commission will refer the Czech Republic to the Court regarding a Directive on transparency obligations of listed companies.