Germany: Commission consults on revised edition of German Corporate Governance Code

Earlier this week the Corporate Governance Code Commission published for consultation a revised edition of the German Corporate Governance Code: see here (German, pdf) or here (English, pdf).

The opportunity has been taken to restructure the Code and to place greater emphasis on companies' disclosure of their governance arrangements. Key principles are now more clearly identified, alongside supporting recommendations. The principles will operate on the basis of 'apply and explain', with the recommendations operating on the basis of 'comply or explain'. For further information about this change, and the others that have been proposed (particularly concerning remuneration), see the supporting materials available here (in German) or here (in English).