MICEX-RTS and OECD resume work of roundtable on corporate governance in Russia

Participants of a seminar sponsored by MICEX-RTS discussed issues of good corporate governance that lays the foundation for success in any business and therefore, reliability of financial markets. The seminar represents the first event within the framework of resumed project "OECD Roundtable on Corporate Governance in Russia". The key event of the project is scheduled for October 2012.

Corporate governance is a major issue of creating an effective market economy and well-developed stock market in Russia that meets the international standards as well as boosting confidence of Russian and foreign investors in the market.

MICEX-RTS Group has actively got involved in the work on promoting corporate governance culture among Russian companies. Corporate government standards, codes and methodologies for assessments are elaborated by the Exchange jointly with investment companies, consulting firms, rating agencies and the Federal Financial Market Service. Work on explaining the necessity and importance of improvement of corporate governance culture to top managers of Russian enterprises is carried out.

In his opening remark, Roman Goryunov, the First Deputy Chief Executive Officer, Senior Managing Director ​ at MICEX-RTS, said: "The international community should clearly realize the Russian corporate governance practices and undergoing reforms. Therefore, the time is ripe to take the next step forward and create the reliable and strong corporate governance infrastructure in Russia."

Representatives of Russian and foreign banks and stock exchanges, Ministry of Economic Development of the Russian Federation, the Federal Financial Markets Service, the Organisation for Economic Co-operation and Development, professional associations, financial companies and media holdings took part in the seminar. The participants discussed key issues related to corporate governance practices and listing requirements: role of the exchange in setting out corporate governance requirements, information availability and transparency as well as implementation of legislation on counteraction against illegal use of insider informationand market manipulation.

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