CSR in the Corporate Governance Code of Spain. February 2015

Corporate Governance Code in Spain. New version, February 2015

• On 24 February 2015 the regulatory body of the Spanish Stock Market (Comisión Nacional del Mercado de Valores, CNMV) published the new Unified Code on Good Corporate Governance for listed companies which substitutes the previous version from 2006, partly amended in 2013. 
• The CNMV  had the support and assistance from the Committee of Experts on corporate governance created by agreement of the Council of Ministers on 10 May 2013 that also worked in drafting the Law 31/2014, published on 4 December 2014 and which amended the Companies Act in matters of corporate governance.
• The new Good Corporate Governance Code excludes some recommendations of the previous Code as they have already been incorporated in a binding regulation. It  only includes matters subject to the principle of "comply or explain".
• One of the fundamental changes in this Good Corporate Governance Code is the inclusion of recommendations related to the policy of corporate social responsibility, a matter that in recent years has aroused particular interest and awareness within and beyond our borders. This is why, for the first time, it is recommended that companies examine the impact their activity has on society and the minimum recommended content of the corporate social responsibility policy is established. Moreover, it is recommended that the company informs (whether in its management report or in a separate document) about matters related to corporate social responsibility.

CG, CSR and Multiple listings

Interesting paper by Nasr Taha Hassn "Corporate Governance, Degree of Multinationality, and Corporate Social Responsibility" 

The companies with multiple listing are more likely to have a greater number of shareholders  which increases monitoring costs. One method to reduce shareholders' monitoring costs and alleviate the moral hazard problem is through disclosure in corporate annual reports.

See Journal of Empirical Research in Accounting & Auditing,

ISSN (2384-4787), J. Emp. Res. Acc. Aud. 1, No. 1 (Oct-2014)

  

European Internal Market and services. 30.12.2014

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  Commission welcomes political agreement reached by European Parliament and Council on capping inter-bank fees for card-based payments

  European - Statement Commission Strasbourg, 17 December 2014 The European Commission welcomes the political agreement reached today by the European Parliament and the Council on the Commission proposal for a Regulation on Interchange Fees for Card-based Payment Transactions.

  Let's get Europe working: driving a new phase of growth and competitiveness

  European Commission - Speech - [Check Against Delivery] Brussels, 18 November 2014 Elżbieta Bieńkowska - Commissioner for Internal Market, Industry, Entrepreneurship and SMEs Brussels, 18 November 2014, European Voice/The Economist conference "Let's get Europe working: driving a new phase of growth and competitiveness"   Ladies and Gentlemen, It is an...

  European Commission assesses economic consequences of country-by-country reporting requirements set out in Capital Requirements Directive

  ‎jueves, ‎30‎ de ‎octubre‎ de ‎2014, ‏‎12:00:01

  Press release Brussels, 30 October 2014 European Commission Today the Commission adopted a report containing a general assessment of the economic consequences of country-by-country reporting (CBCR) by banks and investment firms under Article 89 of Directive 2013/36/EU (CRD IV).

  First 'equivalence' decisions for central counterparty regulatory regimes adopted today

  ‎jueves, ‎30‎ de ‎octubre‎ de ‎2014, ‏‎12:00:01

  European Commission Press release Brussels, 30 October 2014 The European Commission has today adopted its first 'equivalence' decisions for the regulatory regimes of central counterparties (CCPs) in Australia, Hong Kong, Japan and Singapore.

  Commission welcomes improved situation for clients of car rental companies

  ‎martes, ‎28‎ de ‎octubre‎ de ‎2014, ‏‎12:00:02

  European Press release Brussels, 28 October 2014 Commission On 8 August, the European Commission made public a letter sent to the CEOs of six international car rental companies, asking them to end practices preventing consumers from accessing best available prices on the basis of their country of residence (IP/14/917).

  Safer banks serving the economy: the European Commission welcomes the publication of the results of the EU-wide stress test by the European Banking Authority and the comprehensive assessment by the European Central Bank

  ‎domingo, ‎26‎ de ‎octubre‎ de ‎2014, ‏‎12:16:30

  European Commission Statement Brussels, 26 October 2014 Since the onset of the financial crisis, major improvements in the EU regulatory framework, the level and quality of banks' capital and supervision have considerably strengthened the resilience of European banks.

  Delegated Act on ex-ante contributions to the resolution financing arrangements under the Bank Recovery and Resolution Directive (BRRD): Frequently Asked Questions

  ‎martes, ‎21‎ de ‎octubre‎ de ‎2014, ‏‎13:59:37

  European Commission MEMO Brussels/Strasbourg, 21 October 2014 1. What are resolution funds and what are they for? The Commission has implemented an ambitious financial regulation agenda (MEMO/14/244) to better regulate, supervise and govern the financial sector so that banks are more resilient to shocks in the future.

  European Commission proposes ratification of Marrakesh Treaty to facilitate access to books for visually impaired persons

  ‎martes, ‎21‎ de ‎octubre‎ de ‎2014, ‏‎12:00:00

  Press release Brussels, 21 October 2014 European Commission The Commission has today proposed the ratification, on behalf of the European Union, of the Marrakesh Treaty to Facilitate Access to Published Works for Persons who are Blind, Visually Impaired, or otherwise Print Disabled.

   

Inversores religiosos exigen ...

El Centro Interreligioso de Responsabilidad Empresarial (ICCR) ha lanzado una campaña para exigir a los emblemáticos almacenes Walmart, la aerolínea Delta, la red hotelera Hyatt y otras multinacionales, que sus filiales de todo el mundo no obliguen a trabajar como esclavos a sus trabajadores