NETHERLANDS - The Corporate Governance Code Monitoring Commission, which tested the Tabaksblat Code, is now planning to implement a series of changes to corporate governance requirements.
Roderick Munsters, chief investment officer at APG, the newly-separated asset management arm of giant pension fund ABP, will also join the organisation dubbed Commission Frijns.
The commission, headed by Munsters' predecessor Jean Frijns, will on June 4 present its evaluation report on the corporate governance Tabaksblat Code, including its suggestions for updating the system.
"Instead of appointing a new commission (Tabaksblat-II), the lobby organisations have asked the monitoring commission to update the code itself," according to a statement from the body.
The Commission was previously expected to wind-up its operations aftersuccessfully completing the role it was initially tasked with.
But the commission will start a fresh consultation from next month, in order to change the existing code.
The commission had conducted various interim studies and it is likely the changes, yet to be proposed, will evolve around current topics such as risk management, payment policy, and the role of commissioners.
Munsters has been appointed as a member of the commission, replacing René Maatman, a former chief legal counsel of ABP, who has joined the Dutch financial markets authority, AFM.
The Takasblat Code was launched on January 1 2004 to improve corporate governance in the Netherlands, following a series of corporate scandals. (See earlier IPE story: New Dutch governance code targets shareholders)
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