On 6 December, European Internal Market Commissioner McCreevy was at Westminster, delivering a speech to the All Party Parliamentary Corporate Governance Group. Some interesting points from Commissioner McCreevy include:
"My recent decision not to propose any EU measure on one-share-one-vote does not mean that I do not believe in one-share-one-vote any more. I continue to believe it is in the best interest of companies and their investors. However, I do not believe that EU action would be useful or fruitful".
"We are looking into the issue of whether we need a recommendation on Shareholders' rights to accompany the recently approved Shareholders' Rights Directive. We are also having a close look at the proper application of existing rules. One of the areas we are looking at in this context is the "acting in concert" rules in the Takeover Directive. I am concerned that some Member States are giving far too wide a reading on this concept, thereby preventing legitimate collaboration between shareholders".
The speech is available here.
A week or so after Commissioner McCreevy's speech, the European Commission published an impact assessment on the proportionality between capital and control in listed companies, which explores the arguments for and against legislation within this area. This is available here.
Europe: Internal Market Commissioner's speech on corporate governance
Labels:
directive,
europe,
rights issue,
shareholder,
shares,
takeover,
takeover directive,
voting
Spread The Love, Share Our Article
Subscribe to:
Post Comments (Atom)
Popular entries
-
Incident: Sick Kids physician loses portable hard-drive with unencrypted personal health informationA physician from Sick Kids hospital who decided to travel with a portable hard-drive containing unencrypted health information on 3,300 pat...
-
The Information and Privacy Commissioner of Alberta released a very interesting order today, considering whether the right to freedom of exp...
-
INSOL Europe recently published a report titled Harmonisation of Insolvency Law at EU Law Level : see here ( pdf ). The report outlines di...
-
Apparently the American government is about to implement its latest version of the no-fly list, without data mining using commercial sources...
-
If all those who say they should be in prison are willing to pay for that through their chequebooks rather than mine and many other taxpayer...
-
Section 309 of the California Corporations Code provides that a director must act in good faith, in the manner in which he/she believes to...
-
A few matters on the subject of tenancy deposit protection which I have been meaning to comment on for a while. The August issue of Legal Ac... -
On June 23, Australia's Parliamentary Joint Committee on Corporations and Financial Services published a report titled Better sharehold...
-
Several months ago the Court of Appeal gave judgment in Moore Stephens (a firm) v Stone & Rolls Ltd [2008] EWCA Civ 644 and it would ap...
-
"Police tried to calm the teen, but Holyfield became combative, according to the statement. Officers fired the stun gun at him after he...
Comments
Post a comment on: Europe: Internal Market Commissioner's speech on corporate governance