critique DCG

Criticism at the DCGK

On the yearly press conference of the protective association of the capital investors (SdK) on 3 August 2004 much criticism at the DCGK and/or at its without consequences disregard became loud by a large part of the corporations.

Still two thirds of the prominent corporations in Germany refused putting the purchases of their members of the board respectablly openly. That is a striking offence against the transparency requirement of the DCGK. The Federal Secretary of Justice was requested to compile immediately an appropriate novella in which executive committee and supervisory board members are obligated to make their entire purchases individually public.

Likewise the SdK "“in the meantime the everywhere usual automatism"” criticized with the change of chairmen of the board into the supervisory boards of corporations. With 16 of 30 enterprises DAX 30 are the supervisory board chairmen former executive committee speakers. That equals a "“actual self appointment of supervisory board chairmen"” and is a "“deprivation of power of the capitals owner".

http://www.economy-point.org/g/german-corporate-governance-kodex.html

PFITZER Norbert, OSER Peter, ORTH Christian (eds), Deutscher Corporate Governance Kodex. Ein Handbuch für Entscheidungsträger, 2e édition, Schäffer Poeschel, Stuttgart, 2005, 544 p.

Le précis de PFITZER et al. présente la version révisée (en date du 02-06-05) du code de transparence des sociétés par actions tels qu’il avait été à l’origine développé par la Commission Cromme. L’ouvrage, qui s’adresse aux managers, détaille à la fois les dispositions légales qui s’imposent aux sociétés par actions et les éléments de ce code que les entreprises – dont une part croissante de PME – s’engagent aujourd’hui à respecter sur une base volontaire

http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act