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KonTraG
The Law on Control and Transparency in Business (german: Gesetz zur Kontrolle und Transparenz im Unternehmensbereich) (abbr. KonTraG) is a comprehensive law passed by the German Bundestag on 5 March 1998. It entered into force on 1 May 1998, although some provisions were adopted at later dates. It set new standards of corporate governance for German publicly listed companies. It is similar to the U.S. Sarbanes-Oxley Act of 2002. Aims and content The aim of the KonTraG is to improve corporate governance in German companies. Several provisions of commercial and company law have been amended by this Act. The KonTraG specifies and expands mainly the provisions of the German Commercial code (law), Commercial Code and the Stock Corporation Act. KonTraG has extended the liability of the management boards, supervisory boards and auditors in companies. The core of the KonTraG is a regulation that forces corporate management to implement and operate a company-wide early risk identification ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Governance
Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions that appear purpose-specific. Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance” describes the processes, structures, and mechanisms that influence the control and direction of corporations." This meta definition accommodates both the narrow definitions used in specific contexts and the broader descriptions that are often presented as authoritative. The latter include: the structural definition from the Cadbury Report, which identifies corporate governance as "the system by which companies are directed and controlled" (Cadbury 1992, p. 15); and the relational-structura ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Governance
Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions that appear purpose-specific. Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance” describes the processes, structures, and mechanisms that influence the control and direction of corporations." This meta definition accommodates both the narrow definitions used in specific contexts and the broader descriptions that are often presented as authoritative. The latter include: the structural definition from the Cadbury Report, which identifies corporate governance as "the system by which companies are directed and controlled" (Cadbury 1992, p. 15); and the relational-structura ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bundestag
The Bundestag (, "Federal Diet") is the German federal parliament. It is the only federal representative body that is directly elected by the German people. It is comparable to the United States House of Representatives or the House of Commons of the United Kingdom. The Bundestag was established by Title III of the Basic Law for the Federal Republic of Germany (, ) in 1949 as one of the legislative bodies of Germany and thus it is the historical successor to the earlier Reichstag. The members of the Bundestag are representatives of the German people as a whole, are not bound by any orders or instructions and are only accountable to their electorate. The minimum legal number of members of the Bundestag (german: link=no, Mitglieder des Bundestages) is 598; however, due to the system of overhang and leveling seats the current 20th Bundestag has a total of 736 members, making it the largest Bundestag to date and the largest freely elected national parliamentary chamber in the wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Code (law)
In law, a commercial code is a codification of private law relating to merchants, trade, business entities (especially companies), commercial contracts and other matters such as negotiable instruments. Many civil law legal systems have codifications of commercial law. See also * Civil code * Civil law (legal system) * Commercial law Commercial law, also known as mercantile law or trade law, is the body of law that applies to the rights, relations, and conduct of persons and business engaged in commerce, merchandising, trade, and sales. It is often considered to be a branc ... References {{reflist Civil law (legal system) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Corporation Act
(; abbreviated AG, ) is a German word for a corporation limited by share ownership (i.e. one which is owned by its shareholders) whose shares may be traded on a stock market. The term is used in Germany, Austria, Switzerland (where it is equivalent to a ''société anonyme'' or a ''società per azioni''), and South Tyrol for companies incorporated there. It is also used in Luxembourg (as lb, Aktiëgesellschaft, label=none, ), although the equivalent French language term ''société anonyme'' is more common. In the United Kingdom, the equivalent term is "PLC" and in the United States while the terms "incorporated" or "corporation" are typically used, technically the more precise equivalent term is "joint-stock company" (though note for the British term only a minority of public limited companies have their shares listed on stock exchanges). Meaning of the word The German word ''Aktiengesellschaft'' is a compound noun made up of two elements: ''Aktien'' meaning an acting part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basel II
Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. It is now extended and partially superseded by Basel III. The Basel II Accord was published in June 2004. It was a new framework for international banking standards, superseding the Basel I framework, to determine the minimum capital that banks should hold to guard against the financial and operational risks. The regulations aimed to ensure that the more significant the risk a bank is exposed to, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability. Basel II attempted to accomplish this by establishing risk and capital management requirements to ensure that a bank has adequate capital for the risk the bank exposes itself to through its lending, investment and trading activities. One focus was to maintain sufficient consistency of regulations so to limit competitive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
