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Britain Warns Europe Not to Ditch Governance Principle

Neil Baker | July 22, 2011

Britain's corporate regulator has warned the European Commission not to undermine the “comply or explain” principle as it develops a new cross-Europe approach to corporate governance.

The Financial Reporting Council (FRC) told the Commission that replacing principles with prescriptive rules could stifle enterprise at a time when European economies are seeking to promote economic growth.

The principle of “comply or explain” – where companies can diverge from a best practice code if...

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