many of the recommendations from earlier versions as continuing essential components of an effective corporate governance framework. They also introduce some new issues and bring greater emphasis or
development by enhancing the performance of companies and increasing their access to outside capital. The OECD Principles of Corporate Governance provide the framework for the work of the World Bank Group in
practices for accounting and audit. Divergences from international standards and practices (and the reasons for these divergences) should be disclosed by the standard-setters. Legal and regulatory
shaping was done in the area of issuer integrity. All public companies were encouraged to set their own definitions for eligibility of independent directors, to exceed the minimum standard. All directors
Supervising Those who are in Contact with Investors ■ Promotion of Good Corporate Governance ■ Development of Legal Framework to Afford Better Protection for Clients’ Assets and Provide Mechanism for Investors
, the Amendments to the Royal Enactment on Special Purpose Juristic Persons for Securitization of 1997, and the laws governing the liberalization of securities businesses. The robust legal framework shall
mechanism of investor protection and the SEC efficiency and integrity. Operational framework and assessment procedures were issued later to facilitate the evaluation of the strategic plan's effectiveness. 1.2
capital market supervision is crucial and necessary. The regulations under this Notification set a standard for operation of securities clearing houses and central securities depositories so that their
with other market participants to develop the market in various ways such as introducing standard forms of repurchase agreement (repo), benchmark bond yield curve and formula to calculate debt instrument
regulators and relevant parties. The strategic priorities may be adjusted if changing circumstances so require. 5. Achieving its strategic priorities As the SEC operates within a legal framework, the SEC will