OREANDA-NEWS. The last of OECD Russia's three annual corporate governance roundtables took place on 19 November.

The conference focused on related party transactions and corporate governance and business ethics. The attendees continued the discussion started last year on global experience of collecting and analysing reports on adherence to corporate governance codes to facilitate promotion of Russia's new Corporate Governance Code.

First Deputy Bank of Russia Governor Sergey Shvetsov, Moscow Exchange CEO Alexander Afanasiev, and OECD Head of Corporate Affairs Mats Isaksson delivered a welcoming address, in which they presented the results of the three-year cooperation to improve Russia's corporate governance environment, and expressed their commitment to future cooperation.

The most significant result of the roundtables was the new Corporate Governance Code being adopted by the government and Bank of Russia in early 2014. The principles and recommendations incorporated in the code had been discussed comprehensively in the past, and received positive commentary from the international financial community. The code's main provisions were included in Moscow Exchange's new listing rules.

Noted international and Russian experts, high-ranking officials from regulators, exchanges, issuers, and the investment community participated in the roundtable. The received active support from the Bank of Russia, Economic Development Ministry, State Property Management Agency, the Big Four, and various professional associations.

The aims of future cooperation between Moscow Exchange and the OECD will be to help implement recommendations from the new Corporate Governance Code, improve corporate governance systems at Russian companies, and keep the international financial community informed regarding the process of corporate governance development in Russia via a recognised international forum.