Consultation on the corporate governance in financial institutions and remuneration policies
The Commission has issued a Green Paper launching a public consultation on possible ways forward to improve corporate governance in financial institutions and remuneration policies. The deadline for responses was 1st September 2010.
The Green Paper is complemented by a Commission Staff Working Document which describes and analyses weaknesses in corporate governance revealed by the recent financial turmoil.
In its Communication “Driving European Recovery” of 4 March, the European Commission made a commitment to produce a report on corporate governance practices in financial institutions. As part of this exercise, the Commission organised a Seminar in Brussels on 12 October 2009.
The Seminar brought together expert panelists from different Member States to discuss issues such as the role and competences of the Board of Directors, governance issues relating to internal control and risk management and shareholder control, supervision and external audit. Further details can be found in the programme.