EC launches corp gov forum
THE HAGUE – The European Commission (EC) announced in mid-October the formation of a European Corporate Governance Forum. Its mission will be to examine best practices within the EU with a view to enhancing the convergence of national corporate governance codes and providing advice to the EC itself. However, although the EC is now drafting several corporate governance directives, Frits Bolkestein, head of the internal markets directorate, says the members of the new forum would "not provide advice or expertise on legislative initiatives".
The Forum, which will meet for the first time at the end of the year, will be composed of 15 high-level experts in corporate governance, drawn from the EU and from the ranks of investors, issuers, regulators, worker representatives and academics.
"Fears have been expressed about the Forum playing a regulatory role," said Bolkestein, speaking at an EU-sponsored conference on corporate governance at
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