MICEX-RTS and OECD Sign Agreement to Strengthen Corporate Governance
OREANDA-NEWS. December 12, 2011. On December 12 MICEX-RTS and the Organization for Economic Co-operation and Development (OECD) signed an agreement that will strengthen corporate governance in
The joint MICEX-RTS and OECD program, to last for a period of three years, will tackle remaining corporate governance challenges in
The program calls for research to be presented at roundtable meetings and technical seminars by Russian and international experts, including the leading practitioners responsible for assessing, developing and implementing global best practices in corporate governance.
The joint work of the OECD, MICEX-RTS, government bodies and market participants will help lay the groundwork for the formation of an
Ruben Aganbegyan, President of MICEX-RTS, said: "This is not the first time the OECD has shared its expertise on corporate governance in
"Our goal is to provide the international community with an accurate understanding of Russian corporate governance practices and to make it aware of ongoing reform efforts. We are confident that our project will help the Russian financial market realize its potential in full," said OECD Secretary-General Angel Gurria.
Alexander Ikonnikov, Chairman of Russia’s Independent Directors Association, said: "This timely initiative will open new doors for Russian business. I believe the program will assist executives and directors in their efforts to introduce the most advanced governance standards."