remuneration. In this case, the EU must restrict itself to making non-binding recommendations. For the major part of the discussed rules, however, the EU has the power. Rules on shareholders’ rights can [...] medium-sized non-listed enterprises the said separation is not the rule. To this end, there is no reason for extending the rules to these enterprises. Basically, the Commission describes risky thinking [...] ► Corporate governance rules for supervisory boards – Duties and competences The Commission suggests clearly defining the duties and competences of the chairman of the supervisory board and dif
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from the rules contained in the Statutes for the European Company (SE), for the European Cooperative Society (SCE) and for the European Economic Interest Grouping (EEIG), there are no EU rules enabling [...] companies in the EU. The framework thus created should now be adjusted to meet the changing needs of the Single Market. The Commission will analyse the conclusions of a forthcoming study on the application [...] as demonstrated by the results of the 2012 public consultation45. In 2013, following the results of the study on the application of the Directive on cross-border mergers, the Commission will consider
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as well as - the ratio between the average remuneration of members of the management and supervisory boards, on the one hand, and that of the other employees, on the other hand. – The stock company [...] approval if the transaction [Art. 9c (2), (3)] - may have a "significant” impact on the profits or turnover of the stock company or - has the result that the volume of all transactions of the stock company [...] 38693-0 | www.cep.eu 3 Main Changes to the Status Quo ► New is the obligation to obtain approval for the remuneration of the management and supervisory boards, for the remuneration report and for transactions
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payers. (p. 9) ► Tasks of the new EU authorities in ESFS The Commission proposes to assign the following tasks to the new EU authorities: – harmonisation of the supervision rules by developing binding technical [...] which are headed by the authority of the Member State where the institute concerned has its head office; representatives of the new EU authorities participate in the meetings of the colleges of supervisors [...] particular the work of the ESFS can improve supervision and strengthen the stability of financial markets, which is essential for the credit supply of the real economy. The attractiveness of the EU as a
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4). – The central body of the EBA is the board of supervisors, which decides on standards, guidelines and recommendations. It is composed of the following members: - as voting members: the heads of [...] of the relevant national banking supervisors; - as non-voting members: the head of the EBA, one representative each from the European Central Bank (ECB), the ESRB, EIOPA and ESMA, as well as a repr [...] As for the remaining areas of these Directives, the EBA may develop non-binding standards (Art. 8). – The EBA may adopt technical standards with a qualified majority voting, in which the same weighting
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4). – The central body of the EBA is the board of supervisors, which decides on standards, guidelines and recommendations. It is composed of the following members: - as voting members: the heads of [...] of the relevant national banking supervisors; - as non-voting members: the head of the EBA, one representative each from the European Central Bank (ECB), the ESRB, EIOPA and ESMA, as well as a repr [...] As for the remaining areas of these Directives, the EBA may develop non-binding standards (Art. 8). – The EBA may adopt technical standards with a qualified majority voting, in which the same weighting
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composed of the following members: - as voting members: the heads of the relevant national insurance supervisors; - as non-voting members: the head of the EIOPA, one representative each from the ESRB, the [...] markets or the stability of the whole or part of the financial system”, the Commission may declare the existence of an “emergency situation” (Art. 10 (1)). – In such a case the EIOPA may, within the scope [...] As for the remaining areas of these Directives, the EIOPA may develop non-binding standards (Art. 8). – The EIOPA may adopt technical standards with a qualified majority voting, in which the same weighting
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composed of the following members: - as voting members: the heads of the relevant national insurance supervisors; - as non-voting members: the head of the EIOPA, one representative each from the ESRB, the [...] markets or the stability of the whole or part of the financial system”, the Commission may declare the existence of an “emergency situation” (Art. 10 (1)). – In such a case the EIOPA may, within the scope [...] As for the remaining areas of these Directives, the EIOPA may develop non-binding standards (Art. 8). – The EIOPA may adopt technical standards with a qualified majority voting, in which the same weighting
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composed of the following members: - as voting members: the heads of the relevant national insurance supervisors; - as non-voting members: the head of the EIOPA, one representative each from the ESRB, the [...] markets or the stability of the whole or part of the financial system”, the Commission may declare the existence of an “emergency situation” (Art. 10 (1)). – In such a case the EIOPA may, within the scope [...] As for the remaining areas of these Directives, the EIOPA may develop non-binding standards (Art. 8). – The EIOPA may adopt technical standards with a qualified majority voting, in which the same weighting
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appropriate, the rules governing quorums. The non-voting members and the observers, with the exception of the Chairperson and the Executive Director, shall not attend any discussions within the Board of [...] adopt the establishment plan for the Authority. The budgetary authority shall authorise the appropriations for the subsidy to the Authority. 5. The budget of the Authority shall be adopted by the Management [...] July following the completion of the financial year, to the Members of the Board of Supervisors, the European Parliament, the Council, the Commission and the Court of Auditors. 6. The final accounts
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