News
Tanggal : 2015-12-17

December 2015

The Launching of New G20 / OECD Principles of Corporate Governance

On December 3rd, 2015, OJK in cooperation with Organization for Economic Co-operation and Development (OECD) launched The New G20 / OECD Principles of Corporate Governance at Menara Radius Prawiro (Gedung A), Kompleks Perkantoran Bank Indonesia.

The G20/OECD Principles of Corporate Governance help policy makers evaluate and improve the legal, regulatory, and institutional framework for corporate governance. They also provide guidance for stock exchanges, investors, corporations and others that have a role in the process of developing good corporate governance. First issued in 1999, the Principles have become the international benchmark in corporate governance. They have been adopted as one of the Financial Stability Board’s Key Standards for Sound Financial Systems and endorsed by the G20. This 2015 edition takes into account developments in both the financial and corporate sectors that may influence the efficiency and relevance of corporate governance policies and practices.

 

The Principles of Corporate Governance is as follows:

1. Ensuring the basis for an effective corporate governance framework

-          Role of corporate governance

-          Quality of supervision and enforcement

-          Role of stock markets

2. The rights and equitable treatment of shareholders and key ownership functions

-          Basic shareholder rights

-          New issues: Electronic voting, Related party transactions, Say-on-Pay

3. Institutional investors, stock markets and other intermediaries

-          New chapter: Sound economic incentives throughout the investment chain

-          Disclose and minimize conflicts of interest of the intermediaries

4. The role of stakeholders in corporate governance

-          Encourage active co-operation between corporations and stakeholders

-          Stakeholders access to information

5. Disclosure and transparency

-          Key areas of the board

-          Non-financial information

6. The responsibility of the board

-          Key functions of the board

 

New issues: Risk management, Tax planning, Internal audit

 

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