The numerous clear rules for the executive and supervisory boards of exchange-listed corporations will enhance transparency for investors and improve the access of these corporations to the international financial markets.

The code is a prime example of self commitment by business and, as a " soft law ", will supplement the so-called comply or explain rule in the German government ’ s Transparency and Disclosure law ( Transparenz- und Publizitätsgesetz ) which will enter into effect before the end of this legislative period.