Company Law and Corporate Governance. The Shifting Landscape of Corporate Governance. Editor’s Note: This post comes to us from John J.
Madden, a member of the Mergers & Acquisitions Group at Shearman & Sterling LLP, and is based on an article that first appeared in the BNA Corporate Governance Report and appears with permission; the complete article is available here. The widespread public criticism of boards of directors arising from the financial crisis, and the ensuing governance reform initiatives, should not have come as a surprise to those following trends in corporate governance. Www.oecd.org/dataoecd/60/28/1931684.pdf.
OHADA BUSINESS LAW. European Commission » Internal Market » Company Law » Modernisation of Company Law and Enhancement of Corporate Governance » European Private Company. The European Commission has presented a proposal for a Statute on a European Private Company (“SPE”).
This new company form will enable small- and medium-sized enterprises (SMEs) to do business throughout the EU, with the aim of cutting costs and encouraging growth in this area. The SPE has been designed to address the current onerous obligations on SMEs operating across borders, who need to set up subsidiaries in different company forms in every Member State in which they want to do business. Www.publications.parliament.uk/pa/cm200203/cmselect/cmtrdind/439/439.pdf.