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In this section of the site you have access to a number of external articles and reports which we believe you will find of interest. Use the side bar menu to find items in each particular area. Click on the link and the item will open in a new window.


If you have any items you think should be added to this area, please e-mail Cerys Llewellyn at This email address is being protected from spambots. You need JavaScript enabled to view it.

The FRC have published their revised UK Corporate Governance Code which puts the relationships between companies, shareholders and stakeholders at the heart of long-term sustainable growth in the UK economy. The new shorter, sharper Code focuses on the application of the Principles and puts emphasis on businesses building trust by forging strong relationships with key stakeholders.

FAQs for the 2018 UK Corporate Governance Code are now available online. The Code applies to accounting periods beginning on or after 1 January 2019.

The Institute of Chartered Accountants of Sri Lanka and the Securities and Exchange Commission have published a revised Code of Best Practice on Corporate Governance.

Canada’s Office of the Superintendent of Financial Institutions (OSFI) has released the final version of its revised Corporate Governance Guideline, setting out its expectations for the corporate governance of federally-regulated financial institutions (FRFIs).

The Malta Financial Services Authority (MFSA) has issued a Corporate Governance Manual for Directors of Investment Companies and Collective Investment Schemes.

The Australian Securities Exchange (ASX) has released two consultation papers regarding the proposed third edition of the ASX Corporate Governance Principles and Recommendations (Recommendations) together with governance related changes to the Listing Rules and ASX Guidance Note 9.

The institutional investor has a critical role to play in making the overall corporate governance system effective. South Africa has a hybrid regime of corporate governance. This means that, where governance is not prescribed by statute, companies voluntarily apply the governance principles and practice recommendations of King III or explain how they have applied them differently or why they have not applied them. The institutional investor has by virtue of its share ownership the responsibility to influence and encourage the companies in which it invests to voluntarily apply sound governance principles and practices

This document is a practical tool for unlisted companies and their stakeholders developed by the European Confederation of Directors’ Associations (ecoDa), “the European voice of board directors”. It was produced by a working group set up by ecoDa and chaired by Prof. Dr. Lutgart Van den Berghe, Chairwoman of ecoDa’s Policy Committee and Executive Director of GUBERNA.

EFAMA believes that good standards of governance are critical to ensuring confidence in the European capital markets and has already produced guidance in this area. In 2002, the then FEFSI issued a position paper “Investment Fund Managers as Shareholders” on asset managers’ duty to act as fiduciaries for clients in the exercise of shareholder rights and their expectations of their investee companies. In 2006, EFAMA published a Discussion Paper on “A Code of Conduct for the European Investment Management Industry” which set out high level principles and best practice recommendations for the asset management industry. 

Implementation of an effective risk management framework within an organisation continues to remain a key part of the corporate governance expectations contained in the revised UK Corporate Governance Code 2018. This paper discusses ways in which an organisation can start to consider the identification of emerging risks, and proposes questions that boards and their committees should raise to satisfy themselves that emerging risks are included within the organisation’s risk approach.

The Baltic Institute of Corporate Governance has recently launched the latest in a series intended to build a deeper understanding of how governance works in the Baltic States and to develop suggestions for how to implement world class governance standards in the Baltic region. The report ranks the governance practices of SOEs and compares SOEs internationally. It comprises four interlinked aspects of SOE governance: public perceptions, individual rankings, examines board structures and analyses the legal and institutional framework.

This Code provides a set of Principles and Guidance, but is not intended to be prescriptive; rather it is a formal expression of the components of good corporate practice, against which shareholders and Boards, as well as the Commission, can better assess the degree of governance exercised over companies in Guernsey’s finance sector.

This document sets out seven guiding principles (hereinafter collectively referred to as the Guiding Principles) of prudential requirements in the area of corporate governance for institutions offering only Islamic financial services (IIFS) (excluding (a) Islamic insurance (takaful) institutions and (b) Islamic mutual funds).

This review seeks to establish the extent to which institutions’ approaches to investment decisions are: rational; well-informed; subject to the correct incentives; and as far as possible, undistorted. The review also  investigates institutional investment in private equity to determine whether there are unnecessary barriers to such investment which should be  removed, not to promote such investment regardless of whether it is right for the institution concerned.

The Malaysian Code for Institutional Investors (the Code), launched by The Securities Commission Malaysia (SC) and Minority Shareholder Watchdog Group (MSWG), is a voluntary Code comprising six key principles.  It sets out broad principles of effective stewardship by institutional investors such as disclosures of stewardship policies, monitoring of, and engagement with, investee companies and managing conflict of interests and guidance is provided on the effective exercise of stewardship responsibilities towards the delivery of sustainable long-term value to the institutional investors’ ultimate beneficiaries or clients.  


These Guidelines are based on a comparative survey of SOE corporate governance practice in OECD countries. The Guidelines are based on and fully compatible with the Principles, but are explicitly oriented to issues that are specific to the corporate governance of State-Owned Enterprises. The Guidelines were adopted by the OECD in April 2005

The FRC have opened a public consultation on the proposed changes to the UK Corporate Governance Code. The deadline for comments was 27th June, with any changes implemented by 1st October 2014.

The Committee on Corporate Governance in Denmark has published revised recommendations which focus on companies’ value creation and the board’s evaluation procedure and involvement in the development of the companies.


Although not the final published version, this is the Final Draft of the 2016 revised UK Corporate Governance Code which has been released alongside final drafts of revised Auditing and Ethical Standards as well as the associated Guidance on Audit Committees. The changes will take effect from 17 June 2016. 

The SEC has approved amended corporate governance listing standards for the NYSE and the Nasdaq that establish new requirements regarding the composition, authority, and responsibilities of compensation committees.

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