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Comply Or Explain
Comply or explain is a regulatory approach used in the United Kingdom, Germany, the Netherlands and other countries in the field of corporate governance and financial supervision. Rather than setting out binding laws, government regulators (in the UK, the Financial Reporting Council (FRC), in Germany, under the Aktiengesetz) set out a code, which listed companies may either comply with, or if they do not comply, explain publicly why they do not. The purpose of "comply or explain" is to "let the market decide" whether a set of standards is appropriate for individual companies. Since a company may deviate from the standard, this approach rejects the view that "one size fits all", but because of the requirement of disclosure of explanations to market investors, anticipates that if investors do not accept a company's explanations, then they will sell their shares, hence creating a "market sanction", rather than a legal one. The concept was first introduced after the recommendations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Audit
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, roll forward prior year working papers, and evaluate the propositions in their auditing report. Audits provide third-party assurance to various stakeholders that the subject matter is free from material misstatement. The term is most frequently applied to audits of the financial information relating to a legal person. Other commonly audited areas include: secretarial and compliance, internal controls, quality management, project management, water management, and energy conservation. As a result of an audit, stakeholders may evaluate and improve the effectiveness of ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Concepts
Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior, with its precise definition a matter of longstanding debate. It has been variously described as a science and as the art of justice. State-enforced laws can be made by a legislature, resulting in statutes; by the executive through decrees and regulations; or by judges' decisions, which form precedent in common law jurisdictions. An autocrat may exercise those functions within their realm. The creation of laws themselves may be influenced by a constitution, written or tacit, and the rights encoded therein. The law shapes politics, economics, history and society in various ways and also serves as a mediator of relations between people. Legal systems vary between jurisdictions, with their differences analysed in comparative law. In civil law jurisdictions, a legislature or other central body codifies and consolidates the law. In common law systems, judg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Principles
A principle may relate to a fundamental truth or proposition that serves as the foundation for a system of beliefs or behavior or a chain of reasoning. They provide a guide for behavior or evaluation. A principle can make values explicit, so they are expressed in the form of rules and standards. Principles unpack the values underlying them more concretely so that the values can be more easily operationalized in policy statements and actions. In law, higher order, overarching principles establish Legal rule, rules to be followed, modified by sentencing guidelines relating to context and proportionality. In science and nature, a principle may define the essential characteristics of the system, or reflect the system's designed purpose. The effective operation would be impossible if any one of the principles was to be ignored. A system may be explicitly based on and implemented from a document of principles as was done in IBM's IBM System/360 architecture, 360/370 ''Principles of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Company Law
German company law (''Gesellschaftsrecht'') is an influential legal regime for companies in Germany. The primary form of company is the public company or (AG). A private company with limited liability is known as a (GmbH). A partnership is called a ''Kommanditgesellschaft'' (KG). History In Germany, through most of the 19th century the ''Kommanditgesellschaft'' (''société en commandite'' in France) was the typical form of business organisation. A "KG" had at least one member with unlimited liability, but other investors' liability was limited to their contribution. A special concession was not required for setting up this company. The first German public company statute was the Prussian Act of 1794. In 1861 the ''Allgemeines Deutsches Handelsgesetzbuch'' or the General Commercial Code for all of Germany, as well as Austria, was enacted, which devoted a section to joint stock companies. This allowed incorporation with limited liability. Companies would be constituted with a sing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Company Law
British company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directive (European Union), Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth of Nations, Commonwealth and as an international standard setter, British law has always given people broad freedom to design the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SRD II
The Shareholder Rights Directive, amended by the Directive (EU) 2017/828, establishes requirements in relation to the exercise of certain shareholder rights attached to EU-listed companies. It also establishes specific requirements in order to encourage shareholder engagement, in particular in the long term. The Shareholder Rights Directive 2007 replaced the First Company Law Directive 68/151/EEC. It set out minimum requirements relating to the holding of meetings in the EU. The directive was amended and largely extended by Directive 2017/828/EU of 17 May 2017, also known as SRD II, as regards the encouragement of long-term shareholder engagement. Contents The directive's structure is as follows: *Chapter Ia. Identification of shareholders, transmission of information, facilitation of exercise of shareholders' rights *Chapter Ib. Transparency of institutional investors, asset managers and proxy advisors *Chapter II on General meetings of shareholders including the remuneration of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Sweden
The law of Sweden is a civil law system, whose essence is manifested in its dependence on statutory law. Sweden's civil law tradition, as in the rest of Europe, is founded upon Roman law as codified in the ''Corpus Juris Civilis'', but as developed within German law, rather than upon the Napoleonic Code. But, over time Sweden along with the other Scandinavian countries have deviated significantly from their classical Roman and German models. Instead, the Scandinavian countries (Sweden, Norway, and Denmark) together with Finland, the Faroe Islands, Greenland, Åland (self-governing) and Iceland may be said to have a special "Nordic" version of jurisprudence that is neither a truly civil law system nor a part of the British-derived common law legal system. Before reception of Roman-Germanic law, the Nordic countries had a deep common law tradition of their own, including juries (, ) delivering verdicts with a jurist as a chairman, general deliberative assemblies () under a lawspe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Remuneration
Remuneration is the pay or other financial compensation provided in exchange for an employee's ''services performed'' (not to be confused with giving (away), or donating, or the act of providing to). Remuneration is one component of reward management. In the UK, it can also refer to the automatic division of profits attributable to members in a Limited Liability Partnership (LLP). Types Remuneration can include: *Commission (remuneration), Commission *Employee benefits *Employee stock ownership *Executive compensation **Deferred compensation *Salary **Performance-linked incentives *Wage *Inventor (patent)#Compensation of inventors, Mandatory compensation payable by an employer to an employee for the benefit obtained from a patent for an invention made by an employee United States For wage withholding purposes under U.S. income tax law, the term "wage" means remuneration (with certain exceptions) for services performed by an employee for an employer.''See generally'' subsection (a) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Germany
Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total population of over 84 million in an area of , making it the most populous member state of the European Union. It borders Denmark to the north, Poland and the Czech Republic to the east, Austria and Switzerland to the south, and France, Luxembourg, Belgium, and the Netherlands to the west. The Capital of Germany, nation's capital and List of cities in Germany by population, most populous city is Berlin and its main financial centre is Frankfurt; the largest urban area is the Ruhr. Settlement in the territory of modern Germany began in the Lower Paleolithic, with various tribes inhabiting it from the Neolithic onward, chiefly the Celts. Various Germanic peoples, Germanic tribes have inhabited the northern parts of modern Germany since classical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Corporate Governance Code
German(s) may refer to: * Germany, the country of the Germans and German things **Germania (Roman era) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizenship in Germany, see also German nationality law **Germanic peoples (Roman era) *German diaspora * German language * German cuisine, traditional foods of Germany People * German (given name) * German (surname) * Germán, a Spanish name Places * German (parish), Isle of Man * German, Albania, or Gërmej * German, Bulgaria * German, Iran * German, North Macedonia * German, New York, U.S. * Agios Germanos, Greece Other uses * German (mythology), a South Slavic mythological being * Germans (band), a Canadian rock band * "German" (song), a 2019 song by No Money Enterprise * ''The German'', a 2008 short film * "The Germans", an episode of ''Fawlty Towers'' * ''The German'', a nickname for Congolese rebel André Kisase Ngandu See also * Germanic (disambiguati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
