Various recent press reports have suggested that the European Commission is preparing to propose the introduction of legislation which would impose a 40% quota for women on boards by 2020. According to the reports, companies with 250 employees or more, or with more than €50 million in revenue, would be required to report annually on the gender composition of their boards. Those that failed to meet the mandatory quota would, it has been reported, be subject to administrative fines or would be barred from state aid contracts. The Commission is expected to publish its proposals in October this year and we will up-date you once the position becomes clearer.