Activities of Ildikó GÁLL-PELCZ related to 2011/2181(INI)
Plenary speeches (1)
Corporate governance framework for European companies (debate)
Amendments (8)
Amendment 2 #
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the Commission's green paper on the EU corporate governance framework; believes that, given the diverse nature of existing national frameworks and individual listed companies, a proportional and flexible approach to corporate governance must be applied;, but also calls for the fact that the excessive bureaucratic burden need to be avoided.
Amendment 3 #
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the Commission’s green paper on the EU corporate governance framework; believes that, given the diverse nature of existing national frameworks and individual listed companies, a proportional and flexible approach to corporate governance must be applied, taking into account the ambitious growth targets set by Agenda 2020 and the provisions of Directive 2006/46/EC;
Amendment 13 #
Draft opinion
Paragraph 2
Paragraph 2
2. Believes that a ‘comply or explain’ approach is the most appropriate framework to apply to EU listed companies, providing a firm regulatory framework in whiRecognises that the financial crisis revealed a lack of effectiveness of existing corporate governance principles based on a 'comply or explain' approach; companies are accountable to the shareholders that provide their capital and are also required by law to report on their corporate governance practicencludes that a core of practicable and legally binding provisions are needed and must be complemented by soft regulation such as codes of best practices as well as reinforced supervision at national and EU level;
Amendment 18 #
Draft opinion
Paragraph 2 – point 1 (new)
Paragraph 2 – point 1 (new)
(1) Emphasizes that the Green Book only deals with the enterprises listed on stock, although it would be practical to also involve the OTC enterprises and the SMEs under a differentiated approach into the subject of the regulation of the corporate governance framework for European companies, as they have enormous economical potential and they serve as driving force of the European economies;
Amendment 25 #
Draft opinion
Paragraph 4
Paragraph 4
4. Believes that existing codes should be strengthened and that more effective monitoring of codes and better quality of explanations are required; stresses that shareholders (not only the majority but also the minority ones) must remain central to the governance of companies and their role must be enhanced, not diminished; believes that shareholders should inform regulators when a company provides an unacceptable explanation for departing from a code of practice;
Amendment 29 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls on the Commission to put in place definite initiatives to ensure better representation of women on boards of directors; emphasises that corporate management and remuneration policies must comply with and foster the principle of equal treatment of women and men established by EU directives;
Amendment 31 #
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Stresses that a well-governed company should be transparent and accountable to its shareholders and other stakeholders; reaffirms that directors of corporates have to take account of the sustainability, long- term interests when taking decisions, in order to minimise risks;
Amendment 35 #
Draft opinion
Paragraph 6
Paragraph 6
6. Notes that there is a lack of long-term focus within the market and urges the Commission to review all relevant legislation to assess whether any requirements have inadvertently added to short-termism; in particular calls on the Commission to abandon the requirement for quarterly reporting in the Transparency Directive, which adds little to shareholder knowledge and simply creates short-term trading opportunities., calls on the Commission to bring forward legislative proposals in the field of company law to help address corporate governance issues and ensure consistency in remuneration policy for all types of companies;