Plans to tighten corporate governance rules
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Manufacturing News, Source : TheManufacturer.com
Published : 31 Oct 2002 9:52
Brussels aims to tighten corporate governance rules to avoid another Enron-style scandal.
The modification of more than 40 corporate governance codes has been prioritised since April when European Union finance ministers appealed for action after the Enron affair. The new rules, to be proposed next week by the European Commission, will affect companies listed in the EU. Countries including France, Germany and Spain will be affected although it’s unlikely to have any serious effects in Britain. The proposals include companies being recommended to publish details of directors’ pay to receive shareholders approval.
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