recommendation of the SEC. The SEC has been largely free from scandal and has a positive reputation in the eyes of market participants. The resignation of the SEC Chairman in 20114 confirmed the desire of the
corporate governance while promoting awareness and use of the OECD Principles of Corporate Governance as well as the OECD Guidelines on Corporate Govern- ance of State-Owned Enterprises. In addition to being
that govern trading on its facilities is therefore an important element of the corporate governance framework. What traditionally were called “stock exchanges” today come in a variety of shapes and forms