European Commission publishes 2013 action plan on key changes to European company law
The European Commission has published an Action Plan on European company law and corporate governance for 2013. The Plan sets out 16 different priority actions to be taken by the Commission, including proposed legislation and other “soft law” initiatives — such as recommendations and corporate governance codes — aimed at enhancing transparency, increasing shareholder engagement and creating more competitive and sustainable companies in Europe.
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In a speech delivered at the College of Europe in Bruges on 14 January 2013, Joaquín Almunia, Vice-President of the European Commission, and Commissioner responsible for Competition, stated that the Commission hopes to settle around half of its outstanding cartel investigations in 2013, using the settlement procedure instituted in July 2008.
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