The European Commission wants to know what framework is needed to unleash the potential economic and societal benefits of the IoT, whilst ensuring an adequate level of control of the devices in gathering, processing and storing information. The consultation looks at users' behavioural patterns, location and preferences.  The Commission wants to ensure that the rights of individuals are respected and is inviting comments which must be received by 12th July 2012.

Through the consultation, the Commission is seeking views on privacy, safety and security, security of critical IoT supported infrastructure, ethics, interoperability, governance and standards.  The results of the consultation will feed into the Commission's Recommendation on the IoT, which is planned to be presented by summer 2013.

Please contact Enterprise Europe Network Yorkshire or call 0800 052 8156 for more information if you wish to participate. 

The existing rules date from 2000 and set out how bankruptcies – of both companies and individuals – should be coordinated between several EU countries. 

Around half of European enterprises survive less than five years, so that in 2010 some 600 companies went into liquidation every day.  The Commission therefore believes that it is essential to have modern laws and efficient procedures in place to help those businesses which have insufficient economic substance to overcome their financial difficulties and get a “second chance”.

Whilst the original 2000 Regulation is felt to have improved legal certainty and facilitated cooperation between judicial authorities in the treatment of cross-border insolvency cases, the Commission believes that important developments in national insolvency law and considerable changes in the economic and political environment call for a fresh look.

It is therefore inviting businesses, insolvency practitioners, legal and public authorities, creditors and academics to submit their views and experiences of insolvency and in particular cross-border insolvency.  Their answers will help the Commission determine whether and how the current legal framework should be improved and modernised.  Comments should be sent in by 21st June 2012.

To find out more about the consultation and how to get involved,  please contact the Enterprise Europe Network team on 0800 052 8156 or e-mail info@ee-yorkshire.com
 

The consultation focuses on cross-border double non-taxation of companies i.e. cases where divergent national rules and / or inadequate national tax measures in two countries lead to non-taxation.  For example, this may be the case if two countries define entities in a different way, resulting in income not being taxed in either state.  The consultation concerns direct taxes such as corporate income taxes, non-resident income taxes, capital gains taxes, withholding taxes, inheritance taxes and gift taxes.

The Commission would like to hear from all interested parties including tax professionals in practice, in business and in academia for factual examples of double non-taxation within the EU and in relations with third countries.  In order to encourage participation by those who may have insight into real-life exploitation of double non-taxation by companies, anonymous contributions will be accepted.  Following the consultation, the Commission intends to develop the most appropriate policy response before the end of 2012.

To find out how you can contribute to the consultation please contact the Enterprise Europe team on 0800 052 8156 or info@ee-yorkshire.com

A newly published European Commission report shows that limited progress towards increasing the number of women on company boards has been achieved one year after the EU called for self-regulatory measures.  One in seven board members at Europe’s top firms is a woman (13.7%) – a slight improvement from 11.8% in 2010.

Gender balance in top positions has been shown to contribute to better business performance, improved competitiveness and economic gains.  For example, a report by McKinsey found that gender balanced companies have a 56% higher operating profit compared to male-only companies.  Ernst & Young looked at the 290 largest publicly-listed companies.  They found that earnings at companies with at least one woman on the board were significantly higher than in those that had no female board member.

One year ago the EU Justice Commissioner, Viviane Reding, challenged publicly-listed companies in Europe to voluntarily increase the number of women in their boardrooms by signing the ‘Women on the Board Pledge for Europe’.  By signing this Pledge, companies commit themselves to raise female representation on their boards to 30% by 2015 and 40% by 2020.  However, during the past 12 months, only 24 companies across Europe have signed the Pledge.

Several Member States – notably Belgium, France, Italy, the Netherlands and Spain – have started to address the situation by adopting legislation that introduces gender quotas for company boards.  Some countries – Denmark, Finland, Greece, Austria and Slovenia – have adopted rules on gender balance for the boards of state-owned companies.  Viviane Reding points out that businesses operating across borders in the internal market may have to comply with different national quota laws if they want to participate in tenders for public works, and that the Commission’s Legislative Work Programme for 2012 includes an initiative to address this situation.

The Commission's consultation aims to identify appropriate measures for addressing the persistent lack of gender diversity in boardrooms of listed companies in Europe.  The Commission is seeking views on possible action at EU level, including legislative measures, to redress the gender imbalance on company boards.  Following this input, it will take a decision on further action later this year.

To find out about contributing to the consultation please contact the Enterprise Europe team at info@ee-yorkshire.com or on 0800 052 8156.

European company law provides a common set of rules that offers equivalent protection to shareholders, creditors and other stakeholders across the EU who are affected by companies’ actions.  Whilst Member States’ different legal traditions need to be respected, harmonisation of the basic rules aims to make it easier for companies to offer services and products to all customers in the Union. 

The growth of cross-border trade and the development of e-commerce present many opportunities for businesses and consumers, but also present challenges for the existing company law framework. 

The existing legislation includes a large number of Directives and Regulations covering areas such as the protection of interest of shareholders and others, takeover bids, branches disclosure, mergers and divisions, shareholders’ rights and related areas such as financial reporting and accounting. 

The European Commission has launched its public consultation to collect comments from stakeholders on whether today’s needs are still met by this existing legal framework, and how best to adapt if necessary. 

The following issues are covered in the consultation:

Objectives and scope of European company law – What should be the main objectives?  Are the current rules fit for today’s challenges?  In which areas is there a need for further development?  What should be the relationship between company law and corporate governance?

"Codification" of European company law – Should the existing company law Directives be merged in a single instrument in order to make the legislation more accessible and user-friendly?

The future of company legal forms at European level – What are the advantages and shortcomings of European company forms?  Do existing company forms need to be reviewed?  Should alternatives be explored?

Cross-border mobility for companies – What can be done to facilitate the cross-border transfer of a company’s seat?  What if a company splits into different entities cross border?  Should the rules on cross-border mergers be reviewed?

Groups of companies – i.e. a set of companies under a single management or source of control – Is there any need for EU policy action in this field?

Capital regime for European companies – Should the existing minimum legal capital requirements and rules on capital maintenance be modified and updated?

Responses received via the consultation will be analysed and a feedback statement summarising the results will be published.  Follow up actions would be taken afterwards. 

To find out more about the consultation and how to take part, please contact the Enterprise Europe Network team on 0800 052 8156 or e-mail info@ee-yorkshire.com