European corporate governance developments

Corporate governance is an issue high on the agenda in Europe as well as in the UK. The European Commission is concerned about the gender imbalance on corporate boards and has consulted on ways to get more women on to listed company boards. It also wants to improve the transparency of the non-financial information reported by public interest entities with more than 500 employees and the EU Non-Financial Reporting Directive had to be implemented by Member States by December 6, 2016.

• European Commission’s consultation on possible revision of Non-Financial Reporting Directive – January 2020
• European Commission Guidelines on non-financial reporting of climate-related information – June 2019
• European Commission proposal on the standardised presentation of the remuneration report under the Shareholder Rights’ Directive – March 2019
• European Commission consultation on update of guidelines on non-financial reporting – February 2019
• Shareholder Rights Implementing Regulation –  September 2018
• Council of the EU Formal adoption of shareholders’ rights in EU companies – April 2017
• European Commission Consultation on Non-Binding Guidelines for Reporting of Non-Financial Information by Companies – January 2016
• IFC A guide to corporate governance practices in the European Union – March 2015
• Directive regarding the disclosure of non-financial and diversity information by certain large undertakings and groups published in the Official Journal – November 2014
• Council of European Union adopts new rules to improve the quality of statutory audit – April 2014
• European Parliament adopts a resolution on proposed directive on disclosure of non-financial and diversity information – April 2014
• European Commission Proposal to revise the Shareholder Rights Directive – April 2014
• European Commission Recommendation on the quality of corporate governance reporting –  April 2014
• European Commission Communication on long term financing – March 2014
• European Parliament adopts resolution on directive for improving gender balance among non-executive directors of listed companies –  November 2013
• European Commission Proposal for a directive to amend Accounting Directives in relation to the disclosure of non-financial information –  April 2013
• European Commission Green Paper “Long-term financing of the European economy” –  March 2013
• European Commission Communication “Action Plan: European company law and corporate governance - A modern legal framework for more engaged shareholders and sustainable companies" - December 2012
• European Commission Proposal for a directive on improving gender balance among non-executive directors of listed companies –  November 2012
• European Commission Communication “Gender balance in business leadership: a contribution to smart, sustainable and inclusive growth” –  November 2012