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NEWSLETTER APRIL 2017
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Welcome to the third issue of this newsletter, which gives you the lowdown on the Corporate Governance Committee's activities and the latest developments in the field of corporate governance for listed companies!
New composition of the Corporate Governance Committee
On 12 October 2016, the Corporate Governance Committee decided to change its composition, opting to limit the number of members to 15 while ensuring that key stakeholders with respect to good governance in Belgium were sufficiently represented. Committee members are chosen first and foremost for their experience of and expertise in corporate governance.

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2009 Code to be reviewed in 2017
On 21 November 2016, the chairman of the Corporate Governance Committee, Thomas Leysen, announced that the Committee will review the 2009 Belgian Code on Corporate Governance in 2017. After all, the Committee is tasked with ensuring that the provisions of the Belgian Code on Corporate Governance remain relevant to listed companies and are regularly updated on the basis of actual practice, legislation and international standards.

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Audit reform transposed into Belgian legislation
The European Union approved an important audit reform in 2014. Belgium already set the new limits regarding the duration of the audit engagement earlier this year. Recently, the Parliament approved an act completing the implementation of the audit reform. Mandatory rotation of auditors for public-interest entities has been introduced. In addition, the role of the audit committee has been strengthened and the conditions for the provision of non-audit services amended. Finally, "Big Four only" clauses have been banned.

READ THE LEGISLATIVE TEXTS HERE
Various countries revise their Code for listed companies
FRANCE
On 24 November 2016, Afep and Medef published a revised version of the corporate governance code for listed companies.

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NETHERLANDS
On 8 December 2016, the Monitoring Committee Corporate Governance Code published a new version of the Dutch Corporate Governance Code.

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GERMANY
On 7 February 2017, the Regierungskommission Deutscher Corporate Governance Kodex decided on amendments to the German code for listed companies.

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SOUTH AFRICA
The King IV Report was launched on 1 November 2016 by the King Committee and the Institute of Directors in Southern Africa (IoDSA). It replaces the King III Report, which was published in 2009.

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Corporate Governance Committee
Stuiversstraat / Rue des Sols 8
B - 1000 Brussels
T + 32 2 515 08 59
F + 32 2 515 09 85
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Corporate Governance Committee · Stuiversstraat/Rue des Sols 8 · Brussels 1000 · Belgium

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