The Council of Ministers received a report from the Ministry of Economy and Competitiveness on the Draft Regulation for the amendment of the Spanish Companies Act, in order to improve corporate governance in companies.
This Draft Regulation includes proposals for policy changes raised by the Committee of Experts on matters of corporate governance, which was created by the Council of Ministers on 05.10.2013 for a study on best practices in corporate governance and promote initiatives to respect.
The Committee of Experts issued its Opinion on 14.10.2013 and proposed concrete measures for the amendment of the current Spanish Companies Act. The main reforms fall on listed companies but there are also changes for societies in general.
This Draft Regulation for the improvement of corporate governance in companies should be subjected to public hearing procedure before moving to parliamentary procedure.