Saturday, July 29, 2006

EU corporate governance body says no need for new rule on internal controls


A corporate governance body chaired by the European Commission said there is no need to ask EU companies' boards of directors to certify the effectiveness of internal controls, even though this is a requirement in the US.

The European Corporate Governance Forum has also recommended the introduction of a rule obliging financial intermediaries to facilitate the exercise of voting rights in general meetings of listed companies by or on behalf of their clients.

See full Article.