The European Commission's Green Paper on corporate governance and remuneration policies in financial institutions madenumber of significant suggestions, including:
a) limiting the number of board memberships, and requiring greater expertise and qualificationson boards;
b) mandating risk committees and stronger risk management functions;
c) fortifying the legal liability of directors under an expanded duty of care;
d)regulating or restricting stock options; and
e) requiring that institutional investors publish their voting and engagement policies and records, and comply with stewardship codes.
The full Green Paper is on BDTI's data library:
http://bdti.mastertree.jp/f/kveat1f0
A convenient summary of the EC's report can be found here: http://bdti.mastertree.jp/f/ja80g1zx
The Board Director Training Institute (BDTI) is a "public interest" nonprofit in Japan dedicated to training about directorship, corporate governance, and related management techniques. It is certified by the Japanese government to conduct these activities as a regulated nonprofit. Read a summary about BDTI here, and see a menu of its services for both corporations and investors here.