Wednesday 5 November 2008

Sweden: revised corporate governance code now in force

The codes directory maintained by The European Corporate Governance Institute has been updated to include a copy of the Swedish Corporate Governance Code which came into force on 1 July 2008. Produced by the Swedish Corporate Governance Board, the Code's application has been widened to include all Swedish limited companies whose shares are traded on regulated markets in Sweden. In the Code it is noted that:

Such an extension of the Code requires it to be adapted to the circumstances of smaller listed companies. The Board has therefore reviewed the Code with the aim of shortening and simplifying it as much as possible without relaxing the criteria for good corporate governance in Swedish listed companies. The Board has also focused on eliminating weaknesses that have come to light in the application of the Code so far and on preparing the Code for continued discussions on harmonising corporate governance norms in the Nordic countries. The revised Code is a result of this review".

For a comparison between the new Code and its predecessor, see here. Further background information is available in the Board's annual report for 2008, available here.

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