The European Commission has published a green paper launching a public consultation on the effectiveness of the existing European corporate governance framework. The consultation aims to conduct a debate on ways to improve the existing framework. The green paper - The EU Corporate Governance Framework - focuses on listed companies and on the following issues:
board of directors – areas of scrutiny include the managing board's and supervisory board's effective functioning, diversity of expertise and background, and transparency of the remuneration policy
shareholders – the main focus is on improving shareholders' engagement
The consultation is open until 22 July 2011. The Commission has agreed to issue a feedback statement in Autumn 2011, summarising the results of the consultation.