unlisted companies. Corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure

governance frame- work. For instance, in Asia the prevalence of controlling shareholders might require more focus on independence of the board to monitor the management and effective protection of minority

the relationships among the management, board of directors, controlling shareholders, minority shareholders and other stakeholders. Good corporate governance contributes to sustainable economic

Management 43 Investment Adviser 48 Enforcement 53 Market 57 International Cooperation 60 Corporate Affairs Appendices 63 Capital Market Performance 2002-2004 69 https://www.sec.or.th/EN/Documents/AnnualReport

efforts in strengthening corporate governance in the industry. In the year ahead, countless different challenges are bound to arise and test our strengths, but I believe the SEC management and staff will

-linked life insurance policy and in defining clearer scope of supervision responsibility. In this regard, the SEC will supervise in the area of asset management companies, including fund management

. Kellogg Graduate School of Management, Northwestern University, USA, he taught at the National Institute of Development Administration (NIDA) before entering politics. M.R. Pridiyathorn Devakula M.R

governance guidelines cover the key areas of risk management, internal control, code of conduct, conflict-of-interest management, handling of complaints against the SEC's staff and communication with

help raising the awareness amongst listed companies as to the need of institutional investors in this area. ■ Raise the awareness of listed companies on the importance of good corporate governance and

amendments are expected to enhance flexibility and industry adjustment to the fast changing market environment;3. Supervision of Mutual Fund Management: The mutual fund governance structure would be revised to