European Commission sets up expert group to advise on corporate governance developments

The European Commission has set up an expert advisory group to provide detailed technical advice on preparing corporate governance and company law measures. The group comprises twenty non-governmental experts from various professional backgrounds (issuers, investors, employees’ representatives, academics, regulated professions, etc.) with particular experience and knowledge of the subject.

Single Market Commissioner Charlie McCreevy said: “Expert technical advice from stakeholders is indispensable to making regulation work. I am confident that this group has the practical experience and technical skills to provide such advice on corporate governance and company law. An appropriate framework in these areas should ensure more effectively run companies, which in turn should make an important contribution towards enhancing growth and jobs in Europe in line with the Lisbon competitiveness agenda.”

Members of the group have been appointed for three years. They were selected following a call for applications launched in January 2005. The group will be consulted by the Commission on a regular basis. The group’s advice will supplement, not replace, public consultations on Commission’s initiatives. The Commission will regularly consult the group, chair the group meetings and establish the calendar for meetings.

The technical work of this group will be complementary to the more strategic role in the convergence of corporate governance in Europe carried out by the recently created European Corporate Governance Forum.

•Date: 29th April 2005 • Region: W.Europe/UK •Type: Article •Topic: BC general
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