3. Disputes the position taken by the Commission that ‘shareholders own companies’ and thus should have absolute veto rights on major decisions. Tends to prefer the continental European view that shareholders own shares, notes that they often have a restricted focus on their own financial interests at the stock market, whereas the one-tier or two-tier managements of companies have a broader mission than only making profits for their shareholders; and urges a more fundamental debate about the ownership-control relationship and the European traditions of company law, and a more in-depth analysis of the impact of the major differences in c ...[+++]ompany financing in Europe, particularly between the Anglo-Saxon tradition, where a dispersed share ownership via the financial markets is dominant, and the continental tradition characterised by a major role for banks and majority shareholders.

23. Expresses its regret that no mention is made of the consequences for corporate governance of certain practices resulting from differences in the financing of companies, especially between the Anglo-Saxon tradition - where share ownership spread through financial markets predominates - and the continental tradition where banks and majority shareholders play a more important role; urges the Commission to carry out such an analysis and to avoid conclusions and initiatives based simply on a unilateral approach;

8. Regrets that there is no analysis of the implications for corporate governance practices arising from differences in company financing, particularly between the Anglo-Saxon tradition - where a dispersed share ownership via the financial markets is dominant, and the continental tradition - characterised by a major role for banks and majority shareholders; urges the Commission to make such an analysis and avoid conclusions and initiatives based only on a one-sided approach;

20. Expresses its regret that no mention is made of the consequences for corporate governance of certain practices resulting from differences in the financing of companies, especially between the Anglo-Saxon tradition - where share ownership spread through financial markets predominates - and the continental tradition where banks and majority shareholders play a more important role; urges the Commission to carry out such an analysis and to avoid conclusions and initiatives based simply on a unilateral approach;

The following Crown corporations are included in these clauses: Canadian Broadcasting Corporation, Business Development Bank of Canada, Canadian Council for the Arts, Canada Mortgage and Housing Corporation, Canada Post, Canada Commercial Corporation, Canadian Race Relations Foundation, Cape Breton Development Corporation, Export Development Canada, Farm Credit Canada, Freshwater Fish Marketing Corporation, museums covered under the Museums Act, National Arts Centre, National Capital Commission, Pilotage Authority, Public Sector Pension Investment Board, Royal Canadian Mint, Standards Council of Canada, and Telefilm Canada.

These mortgages were held by banks and insured by the Canada Mortgage and Housing Corporation.