Europe: update on company and financial services law reform

The Joint Brussels Office of the Law Societies of England and Wales, Scotland and Northern Ireland has published the December 2009 edition of its very useful EU financial services and company law reform update. Previous updates are available here. With regard to the proposal for a European Private Company statute, the December update notes:

Despite a revised Presidency compromise agreement, the Competitiveness Council failed to reach agreement on the proposed regulation on a statute for a European Private Company at its meeting of 3 and 4 December. Member States still have concerns regarding the seat of the European Private Company and employee participation in management".