Monthly Archives: January 2016
In Australia, the outsourcing of company secretarial services has become big business over the past 10 years as more companies focus on the importance of strong, coherent corporate governance standards. This has stemmed in part from the global financial crisis (GFC) and the tightening of regulatory regimes that followed. However, as many boards have come to discover, there are many more advantages to engaging an outsourced company secretary than simple legal and regulatory compliance.
Companies often promote values that include highly-regarded principles, such as integrity, inclusiveness, fairness, sensitivity to customer needs and mutual respect. However, there is a gap between values and compliance that must be bridged to create a company culture that is strong enough to withstand the challenges and crises to which companies are constantly exposed.
Over the last couple of years, institutional investors have developed their own approach and their voting, as well as their investment policy, has become a reliable pillar in the German corporate governance concept. This trend is also widely confirmed by German issuers. The vast majority sees active/interested asset managers and owners in a positive manner and value their input. Only a minority of issuers consider more interested shareholders to be an undesirable development (probably due to a negative past experience).
Long-term thinking was also the highlight of the G20/OECD Corporate Governance Forum held on 10 April 2015. Both OECD Secretary-General Angel Gurria and Capital Markets Board of Turkey (CMB) chairman Vahdettin Ertas stated their commitment to rebuilding trust for the well-functioning of stock markets. More recently, Turkish Deputy Prime Minister Cevdet Yilmaz has stressed the importance of transparency and accountability for easier access to finance through capital markets during the B20 meetings in Ankara. Mr Yılmaz and Mr Gurria, in a joint press conference on 5 September 2015, announced the new G20/OECD Corporate Governance Principles and emphasised the principles’ importance for promoting capital-market based financing to drive long-term economic growth.[
12Page 2 of 2