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| | CORPORATE GOVERNANCE UPDATES
- Draft IAIS-OECD Issues Paper on Insurer Corporate Governance
The IAIS - OECD have released a draft Issues paper on Insurer Corporate Governance for consultation. The purpose of the issues paper was to provide background on insurer corporate governance, describe practices and identify possible regulatory and supervisory issues.
For more details, please refer to:
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- Corporate Governance Lessons from the Financial Crisis
The OECD Steering Group on Corporate Governance published a report on Corporate Governance Lessons from the Financial Crisis.This report analysis the impact of failure and weaknesses in Corporate Governance on the financial crisis, including risk management systems and executive salaries.
For the Principles, please refer to:
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- Belgian Corporate Governance Code (2009 Code)
On 12 March 2009, the Corporate Governance Committee published the 2009 version of the Belgian Corporate Governance Code (2009 Code). The 2009 Code replaces the previous version from 2004
For the Policy, please refer to:
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- Recommendations for Corporate Governance
The Committee on Corporate Governance's Recommendations for corporate governance of August 15, 2005; section VI revised by February 6, 2008; and sections III and V were revised by December 10, 2008.
For more details, please refer to:
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- 2009 Review of the effectiveness of the Combined Code
The Combined Code on Corporate Governance sets out standards of good practice in relation to issues such as board composition and development, remuneration, accountability and audit and relations with shareholders.
All companies incorporated in the UK and listed on the Main Market of the London Stock Exchange are required under the Listing Rules to report on how they have applied the Combined Code in their annual report and accounts. Overseas companies listed on the Main Market are required to disclose the significant ways in which their corporate governance practices differ from those set out in the Code.
The Combined Code contains broad principles and more specific provisions. Listed companies are required to report on how they have applied the main principles of the Code, and either to confirm that they have complied with the Code's provisions or - where they have not - to provide an explanation.
On 18 March 2009 the Financial Reporting Council announced the latest in its series of regular reviews of the impact of the Combined Code on Corporate Governance.
For amended German Corporate Governance Code, please refer to:
click here....
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