| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/10/815 (24.6.10) |
| Publication Date | 24/06/2010 |
| Content Type | News |
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In order to ensure that EU citizens and businesses fully benefit from the Internal Market, the European Commission took action on 24 June 2010 against a total of 12 Member States. It has referred Belgium, Cyprus, Greece, Spain, France, Luxembourg, The Netherlands and Sweden to the Court of Justice for late implementation of the Shareholders' Rights Directive. The Directive introduces minimum standards to ensure that shareholders of companies whose shares are traded on an EU regulated market have timely access to the relevant information ahead of the general meeting and simple means to vote at a distance. In the area of public procurement, Bulgaria, Cyprus, Latvia, Portugal and Slovenia will receive reasoned opinions requesting them to fully implement the Remedies Directive. The aim of this Directive is to improve the national review procedures that businesses can use when they consider that a public authority has awarded a contract unfairly. If this Directive is not properly and promptly implemented, there is a risk that bidders cannot efficiently challenge illegal contract awards. If a Member State does not reply satisfactorily to its reasoned opinion within two months, the Commission may refer the matter to the Court of Justice. |
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| Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/815&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Internal Markets |
| Countries / Regions | Belgium, Bulgaria, Cyprus, Europe, France, Greece, Latvia, Luxembourg, Netherlands, Portugal, Slovenia, Spain, Sweden |
