Speech McCreevy on forthcoming issues on Company law and corporate governance

28 June 2007

Speaking on the fifth European Corporate Governance and Company Law Conference in Berlin, Commissioner McCreevy outlined the next steps envisaged by the Commission. Referring to a forthcoming decision of the Court of Justice McCreevy announced that the Commission will postpone its proposal for a directive concerning the cross-border transfer of a company's seat until the autumn at least.

On the question of 'one share, one vote' the Commission is awaiting the results of an external study it commissioned last year. “I can already say one thing”, McCreevy said. “Even on the side of investors, there is no systematic call for imposing the one share, one vote principle!”

Finally, with regard to the simplification on accounting and auditing, McCreevy announced a Communication which will form the basis for a thorough discussion, over the next few months. “Within the next few days, I will set out further more substantial ideas on how we can further simplify the business environment for European companies”, he said.

Full speech

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