The European Commission announced that it is seeking input on ways to improve monitoring and enforcement of corporate governance.
"One of the lessons of the (financial) crisis is that corporate governance, until now usually based on self-regulation, was not as effective as it could have been,” said the Brussels-based commission on its website. A “higher convergence of corporate governance rules across the European Union could facilitate companies’ activities cross-border and reduce compliance costs…And if they are better run, not only is a future crisis less likely but an added advantage is that companies will be more competitive."
The Brussels-based commission is seeking comments by July 22nd for the public meeting, to be held April 5th. Follow up measures will be adopted in 2012.
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