PROJECT NUMBER: 1032101

Corporate Governance from an EU Standpoint: New Challenges

22-23/Apr/2010  •  Brussels  •  Fee: € 850

Introduction
Project Leaders
Adriana Holtslag-Alvarez
profile • activities
Dr Katerina-Marina Kyrieri
profile • activities
For more information about the activity, please contact:
Noëlle Debie
n.debieeipa.eu
+31 43 3296 226

Description
As stated repeatedly by the OECD, the integrity of businesses and markets is central to the vitality and stability of our economies. Therefore, good corporate governance, namely, the rules and practices that govern the relationship between the managers and shareholders of corporations, as well as stakeholders such as employees and creditors, all contribute towards growth and financial stability by underpinning market confidence, financial market integrity and economic efficiency.

The OECD Principles of Corporate Governance have provided specific guidance for policymakers, regulators and market participants in improving the legal, institutional and regulatory framework that underpins corporate governance, with a focus on publicly traded companies. Practical suggestions are also provided for stock exchanges, investors, corporations and other parties that have a role in the process of developing good corporate governance. The OECD Principles have been endorsed as one of the Financial Stability Forum’s 12 key standards that are essential for financial stability. They were originally issued in 1999 and have since become the international benchmark for corporate governance, forming the basis for a number of reform initiatives, both by governments and the private sector. The Principles were revised in 2003. Many countries have since introduced voluntary codes endorsing the OECD principles.

However, when the financial crisis hit the global markets, the existing standards or codes of corporate governance did not seem to be of much help. Instead, the financial turmoil and the ensuing downturn of the world economy have uncovered crucial flaws in what were believed to be fairly robust corporate governance systems. Now, new ways of applying good corporate governance, and in particular looking at how to implement good risk governance in banks is at the top of the agenda.

This EIPA seminar will highlight some key issues and challenges facing European corporate governance in the wake of the crisis, such as:

- a discussion of the main findings of the 2009 European Commission study on implementation and effectiveness of corporate governance regulation in the European Union;

- looking at stricter regulation of remuneration of directors and top-level executives: what are the pros and cons of regulating executive remuneration and which methods are the most appropriate?;

- also, what are the issues related to governments assuming control – through ownership and other means – of major players in the financial markets and other industries?

Speakers from the European Commission, corporate governance specialists and other renowned academics will highlight the current challenges facing implementation of corporate governance standards.

Target group
The seminar is intended to attract participants from all relevant areas interested in the most recent thinking on corporate governance issues, with a particular focus on financial institutions and the impact of the crisis on their structure, organisation, management and (risk) control.