Louis Grech (S&D
), in writing.
– It has become evident in the wake of the financial crisis that the quality of consumer protection and safeguards in the financial service sector require tangible and strong improvement, particularly with regard to monitoring and supervisory aspects. Member States should monitor whether companies provide their shareholders with the appropriate corporate governance statements in order to ensure full transparency and improve shareholder knowledge of corporate governance practices, thus helping to protect shareholders and citizens against excessive risk taking and short-termism. Therefore, while accepting a number of the paragraphs in the Bodu report on the corporate governance framework, such as the distinction between unitary and dualistic company systems, and mentioning of shareholder participation, I believe that the report should have addressed more fair and sustainable governance measures which attempt to improve Europe’s corporate culture, such as worker participation and gender balance.