Regulatory Alerts2015-04-24 | ПФ-4720Added
Measures for the Implementation of Modern Corporate Governance Practices in Joint Stock Companies
The decree establishes key directions for developing the corporate governance system in joint stock companies, including the adoption of a model organizational structure and the creation of a Corporate Governance Scientific and Educational Center. It mandates the reorganization or liquidation of 364 underperforming joint stock companies by October 1, 2015, and requires the development and approval of a Corporate Governance Code by August 1, 2015. Effective July 1, 2015, the use of the word "state" in company names is prohibited, and joint stock companies are required to publish annual financial reports audited according to international standards between 2015 and 2018.
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