CEBS has commented on the Commission's Green Paper on corporate governance in financial institutions and remuneration. CEBS agrees firms' management bodies need to be stronger so they can challenge management decisions. It agrees there should be rules on number, qualification and experience of the management body and that its composition should be reviewed for any change including merger or acquisition, or new processes or product lines. It says assigning appropriate board members to particular responsibilities is the duty of the firm, but sees no harm in supervisors paying close attention to how firms do this. It also has some concerns over the number of boards on which directors can sit, to ensure they spend enough time in each post, but does not think an arbitrary number limit is the right approach. Its response also comments on the importance of the right resources for supervisors and colleges of supervisors, and addresses external audit issues which are outside CEBS's technical scope. (Source: CEBS response to Green Paper on corporate governance in financial institutions and remuneration policies)