International Standards
International Standards in Corporate Governance
Over recent years there has been a need for more alignment in laws and regulatory requirements around the globe to create more international standards in corporate governance as companies and groups trade across many jurisdictions and are subject to multi-regulators.
This has been exacerbated by the financial crisis and has resulted in reviews and reports around the world from governing organisations including:
UK The Walker Review – A review of corporate governance in UK banks and other financial industry entities July 2009 The Walker Review - Final Report November 2009 The FRC Combined Code – Review of the effectiveness of the Combined Code (progress report and second consultation) July 2009 The FRC Combined Code - Final Report December 2009 (Combined Code renamed The UK Corporate Governance Code) The FRC UK Corporate Governance Code - the revised and newly name Code was issued in June 2010 The FSA's International Agenda - FSA update on international regulatory developments affecting UK authorised firms October 2010 The Institute of Directors Corporate Governance Guidance and Principles for Unlisted Companies in the UK November 2010 HMT's announcement on FSA Governance 'A new approach to financial regulation February 2011 The FRC Guidance on Board Effectiveness March 2011 Bank of England - PRA Outline May 2011 HMT's Consultancy on Financial Regulation June 2011 The FSA - FCA Approach to regulation June 2011
Sector Specific initiatives: Investment Companies (AIC Code of Corporate Governance - 5th version) October 2010 Banking (Basel Committee on Banking Supervision principles for sound corporate governance practices in banks) October 2010
EU The EU Commission – Commission communication on European financial supervision (summary of the impact assessment) July 2009 The EU Commission - Improving Financial Supervision announcement December 2009 The EU Commission - Green Paper on Corporate Governance June 2010 The EU Commission - Corporate Governance Road Map for the Green Paper October 2010 The EU Commission - Corporate Governance Green Paper April 2011
The OECD Review – Corporate governance and the financial crisis: key findings and main messages June 2009 The OECD Policy Framework December 2009 ecoDa (European Confederation of Directors' Associations) - Corporate Governance Guidance and principles for unlisted companies in Europe March 2010 The French MEDEF Code – Corporate governance code of listed corporations December 2008
USA The NYSE Code of Ethics April 2004 COSO – Effective enterprise risk oversight: The Role of the Board of Directors July 2009 Sarbanes Oxley Act 2004
For some of the above we have summarised key points from these documents in the above pages. Full downloads of each report are available in pdf format on the relevant page, or as a direct link, as appropriate.
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CTP Global – Good Governance: Great Performance
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