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21.11.2014 17:24

OECD Russia Corporate Governance Roundtable

OECD Russia Corporate Governance Roundtable - the last of OECD Russia"s three annual Corporate Governance Roundtables took place on 19 November.

The conference focused on related party transactions and corporate governance and business integrity. The attendees continued the discussion started last year on monitoring reports for corporate governance codes to facilitate compliance and enforcement of the new Russian Corporate Governance Code. First Deputy Chairman of the Bank of Russia Sergey Shvetsov, CEO of the Moscow Exchange Alexander Afanasiev, and Head of Corporate Affairs Division of OECD Mats Isaksson delivered a welcoming remarks, in which they presented the results of the three-year cooperation between the Moscow Exchange and OECD, and announced their intention to continue the cooperation for a new cycle of three years.

The most significant result of the roundtables was the new Corporate Governance Code being adopted by the Government and Bank of Russia in early 2014. The principles and recommendations incorporated in the Code had been discussed comprehensively in the past, and received positive commentary from the international financial community. The Code's main provisions were included in the Moscow Exchange's new listing rules.

Noted international and Russian experts, high-ranking officials from regulators, exchanges, issuers, and the investment community participated in the Roundtable. The Roundtable is supported by the Bank of Russia, Economic Development Ministry, State Property Management Agency, the Big Four, and various professional associations.

The future cooperation between the Moscow Exchange and the OECD aims to help with the implementation of the recommendations from the new Corporate Governance Code, improving the corporate governance system at Russian companies, and improving the understanding of Russian corporate governance practices and ongoing reform efforts through a credible international forum.

 

For further information, please contact the Public Relations Department at (495) 363-3232.

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