The CoE approach permits a number of permutations in terms of the level of disclosure and enforcement. For example, a listed company may be requested to disclose whether it is in compliance with individual recommendations of the code or merely with the code globally. In terms of the enforcement, the ability of exchanges or other regulators to pursue companies which do not provide adequate levels of disclosure also varies. In most cases, CoE codes are subject to some form of regulatory enforcement, but they may also be subject to enforcement largely by shareholders (. Netherlands 15 ), or the question of.
