The European Commission Publishes its Action Plan on Modernizing European Company Law & Enhancing Corporate Governance in Response to Enron, Ahold, and the Sarbanes-Oxley Act.

Mondaq Business Briefing, October, 2003 by Jean Paul Poitras

Article by Jean Paul Poitras, Phillip von Randow, Christophe von Teichman, Chuck Nathan and Gunar Wolf.

On May 21, 2003 the European Commission provided a major element of the European response to Enron, Ahold, and the Sarbanes-Oxely Act by presenting an Action Plan for "Modernising Company Law and Enhancing Corporate Governance in the EU." The Action Plan is based on a comprehensive set of legislative and nonlegislative proposals extending over three phases through 2009. The issues covered by the Action Plan include corporate governance, capital maintenance, groups/pyramids, as well as corporate restructuring and mobility.

The Action Plan is the Commission's response to the "Winter Group" report presented last November. The Commission's Action Plan follows...