Previous Chapter Chapter 8: Corporate Governance: An IOSCO Perspective* Next Chapter
Any discussion of corporate governance invariably involves a reference to the Organization for Economic Co-operation and Development (OECD) Principles of Corporate Governance.
By way of background, the OECD Principles were originally developed in 1999, with the OECD releasing its revised principles in 2004. Since their development, the significance of the principles to the development of corporate governance practices has been recognized by a number of international bodies. These have been endorsed by the Financial Stability Forum as one of the 12 key standards for financial stability.
The interest shown by the International Organization of Securities Commissions (IOSCO) in corporate governance, like so many regulatory reforms, finds its origins in financial frauds such as Parmalat. Following the Parmalat collapse ...