Regulatory Alerts2017-06-14
FAQs ON THE CORPORATE GOVERNANCE CODE-Updated 140617
The Capital Markets Authority has established the Code of Corporate Governance to mandate higher standards for issuers of securities, emphasizing that mandatory provisions require strict compliance while best practices follow an "apply or explain" regime. Issuers must conduct annual governance audits, biennial legal and compliance audits, and align their board structures and reporting policies with the Code's specific requirements. To ensure effective implementation and assessment, the Authority has provided a corporate governance scorecard, reporting templates, and specialized training, with rotation requirements for audit firms and clear definitions for independent directors.
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