On 5 September 2015, the Organization for Economic Co-operation and Development ("OECD") published an updated version of the G20/OECD Principles of Corporate Governance ("Principles"). The Principles' objective is to improve the legal, regulatory and institutional framework for corporate governance. The update to the Principles includes the following additions:
- a new principle on the role of the stock market in supporting good corporate governance;
- new guidance on the board of directors' role in risk management, tax planning and internal audit, as well as a recommendation for establishing specialised board committees to oversee these areas; and
- new guidance on stakeholders' rights to access information and consequences for the violation of such rights.
This is the first update to the Principles since 2004 and will be presented to the G20 leaders before the November 2015 summit.
The full text of the Principles is available here:
http://www.oecd.org/g20/topics/financing-for-investment/Corporate-Governance-Principles-ENG.pdf
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