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On 19 June 2009, the 38 countries party to the Convention on Combating Bribery of Foreign Public officials in International Business Transactions adopted a Policy Statement on Bribery in International Business Transactions, reaffirming the importance of the Convention and its implementation.
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This report describes why occupational pensions play a major role in OECD countries and worldwide, complementing retirement income from state sources. Their financial importance is highlighted by the volume of assets they manage on behalf of plan members, USD 22 trillion at the end of 2008. Population ageing has also led many OECD countries to undertake a wide range of pension reforms – the overall effect of which has been to reduce
Mats Isaksson answers questions about the corporate governance failures thrown up by the crisis in areas like executive pay and risk management and what needs to be done.
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The OECD’s Competition Committee debated competition issues in the currentfinancial crisis on 17-18 February 2009. Participants included senior competitionofficials, current and former financial markets regulators, leading academics andrepresentatives of the business community. This document presents two keydocuments from that event: an Executive Summary which draws on the debate andthe written materials and the Background Paper for
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This report aims to further advance the action plan on corporate governance and the financial crisis. Following an analysis of major corporate governance weaknesses using the OECD Principles of Corporate Governance.It provides a set of key findings and main messages These findings will provide the basis for a set of recommendations to be issued towards the end of 2009.
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The financial sector is vulnerable to systemic loss of trust. The current crisis resulted from failures in financial market regulation, not failure of competition. Competition and stability can co-exist in the financial sector: more competitive market structures promote stability by reducing the number of banks that are “too big to fail”. Competition helps make the financial sector efficient and ensure that rescue and stimulus
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Gasoline retailing has changed dramatically over the last 25 years. While refiners often still have extensive networks of gasoline retailers, there is also a large independent sector in many countries. A study of the effects of entry by large general retailers finds benefits to consumers. There has been a vigorous debate about whether vertical separation between gasoline stations and upstream entities should be required. It appears
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The main purpose of this paper is to discuss the impact of the changing ownership of stock exchanges on the corporate governance of listed companies.
The 2009 Roundtable on Corporate Responsiblity focused on the responsibilities of multinational companies toward consumers and how consumers can encourage multinational enterprises to live up to the recommendations of the OECD Guidelines for Multinational Enterprises.
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Government debt issuance procedures and policies differ across OECD jurisdictions, in particular in terms of technical standards for selling techniques, primary dealer systems and other primary market arrangements. However, the increased integration of global financial markets (including the jump in the integration of European government debt markets since the introduction of the Euro) has been an important catalyst in the