EU corporate governance action set to flourish
BRUSSELS - Although all is moderately quiet at the moment in terms of the volume of corporate governance material emanating from the EU, this is a temporary phenomonon, as the new head of the internal market directorate has made it clear that the subject is one of his few priorities for new legislative action in the coming term.
Charlie McCreevey, addressing the first meeting of the new European Corporate Governance Forum in late January, dismissed speculation that the group would be seeking to create an EU version of the dreaded US legislation, Sarbanes-Oxley. "The Commission does not want to enact a European Code of Corporate Governance," said McCreevy. "We see no need for this at present and the adoption of such a code
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