EC proposal on business registers reform

The European Commission announced in a press release from the 24.02.2011 its proposal for amendment of Directives 89/666/EEC, 2005/56/EC and Directive 2009/101/EC on the coordination of safeguards for the protection of the interests of members and third parties, which shall facilitate the access to company information Europe wide. The proposed amendment envisages that the member states secure the interoperability between their business registers and provide current company information to a centralized European electronic platform. According to the impact assessment of the EC the implementation of a uniform access to company information Europe wide could generate annual savings of more than 69 million euro.