Consultation Begins Over Possible UK Corporate Governance Reform

December 09, 2016

The Department for Business, Energy & Industrial Strategy (BEIS) has recently published a Green Paper on options for future corporate governance reform. The Government’s stated objective is to put in place “the right checks and balances within big business to strengthen decision-making and accountability”. Whilst the much trailed idea of compulsory employee representation on boards appears now to have been dropped, the Green Paper sets out a number of potential reforms which are under consideration. It is not necessarily the case that formal legislation will result as it is made clear in the Green Paper that the introduction of non-legislative standards for business may be preferred.

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