A revised corporate governance code for companies listed in Belgium will take effect on 1 Jan 2020 — the first update since 2009. Companies must comply with the revised code or explain why they haven’t in more detail than previously required. The code will apply to reporting years starting on or after 1 Jan 2020, although companies may voluntarily apply the code to reporting years from 1 Jan 2019.
In general, the revisions reflect the usual current and best practice themes seen in other mature European markets. Key provisions address: