BVB’s new Corporate Governance Code: information for investors, protection of shareholders’ rights

0

Get real time updates directly on you device, subscribe now.

 

Bucharest Stock Exchange (BVB) launched on Tuesday with the support of the European Bank for Reconstruction and Development (EBRD) a new Corporate Governance Code (CGC) applicable to companies whose shares are admitted to trading on the Main Market.

The new Corporate Governance Code is comprised of 4 sections: Responsibilities, Risk management and internal control system, Fair rewards and motivation, and Building value through investors’ relations. Each section has an outline of “general principles”, followed by “provisions to comply with”. At the center of this Code are access to information for investors and protection of shareholders’ rights.

CGC is part of a new corporate governance framework which will enter into force on January 4, 2016, and aims at promoting higher standards of governance and transparency of listed companies.

“We deploy new measures in order to lay down the most solid base for the capital market in Romania. The new code of Corporate Governance is a modernized set of rules and practices, which will increase the attractiveness and valuation of Romanian companies, for the greatest benefit of investors. We are introducing this code, with a new system of compliance and enforcement, because Romania did not want to remain anymore in that matter, as a frontier market on the map of European markets. We are satisfied with the final outcome of the modernisation of the approach to corporate governance and culture, which we accomplished together with the EBRD, and we will be watchful now as to those aspects of the implementation, which relate to investors’ and companies’ education”, Ludwik Sobolewski, BVB CEO stated.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More