The Group recommends that the priorities on the short term for the EU should be to
Ã?? Improve the EU framework for corporate governance, specifically through:
Ã?? Enhanced corporate governance disclosure requirements
Ã?? Providing for a strong and effective role for independent non-executive or
supervisory directors, particularly in three areas where executive directors
have conflicts of interests, i.e. nomination and remuneration of directors
and supervision of the audit of the company’s accounts
Ã?? An appropriate regime for directors’ remuneration, requiring disclosure of
the company’s remuneration policy and individual directors’
remuneration, as well as prior shareholder approval of share and share
option schemes in which directors participate, and accounting for the
costs of those schemes to the company
Ã?? Confirming as a matter of EU law the collective responsibility of directors
for financial and key non-financial statements of the company
Ã?? An integrated legal framework to facilitate efficient shareholder
information, communication and decision-making on a cross-border basis,
using where possible modern technology, in particular the company’s
Ã?? Setting up a structure to co-ordinate the corporate governance efforts of
Member States
Ã?? Offer efficient mechanisms for cross-border restructuring and mobility of
companies, specifically by adopting proposals for the 10 th and 14 th Company Law
Directives on cross-border mergers and transfers of seat
Ã?? Simplify the 2 nd Company Law Directive on capital formation and maintenance
rules on the basis of the SLIM Group recommendations as supplemented in the
Final Report of the Group