|
Established in June 1999, the Russian Corporate Governance Roundtable brings together an informal but highly influential network of Russian and international policy-makers and private sector decision-makers who seek to improve corporate governance practices and guide future reform efforts.
|
Objectives:
-
Facilitate Russian participation in an international policy dialogue
-
Provide a forum in which Russian policymakers and experts can strengthen and develop contacts with their peers in OECD countries and to facilitate exchange of experience
-
Support reform analysis by advancing the understanding of viable policy-options as well as implementation and enforcement mechanisms in the area of corporate governance.
|
First step: the White paper
Following three years of debate and consultation, the Roundtable released a tangible result of its efforts in the form of a White Paper on Corporate Governance which was completed in April 2002; it contains a formulation of common policy objectives and concrete reform proposals.
A dedicated website www.corp-gov.org on corporate governance in Russia has been set-up in the context of the Roundtable to provide a central electronic venue for information dissemination.
Next step: Implementation and Enforcement
A new phase of work focusing on implementation and enforcement was launched on 2-3 October 2003 in Moscow. This workshop addressed priority disclosure issues, including transition to international financial reporting standards and disclosure of beneficial ownership. The Russian Corporate Governance Roundtable is the first of the Regional Roundtables to begin this next stage of work focused on implementation and enforcement. The Report on "Implementing International Financial Reporting Standards (IFRS) in Russia: 25 Recommendations to Facilitate the Transition to IFRS" was published in February 2005.
The Policy options paper on "Improving transparency of related party transactions in Russia" was issued in May 2005.
In November, 2004 Standard & Poor’s issued a detailed progress report on implementation of each of the 41 recommendations in the Russian White Paper on Corporate Governance prepared by the Russian Corporate Governance Roundtable two years ago. It concluded that “only moderate progress has been made,” but also noted progress in the two areas that the Roundtable task forces have focused on.
Roundtable Meetings:
| 2008 |
27-28 October: Roundtable Meeting
|
| 2006 |
Fall : Task Force Meetings
|
| 2005 |
2-3 June: Roundtable Meeting
|
| 2004 |
11-12 November: Roundtable Meeting
30 June-1 July: Task Force Meeting on Transition to IFRS
25-26 March 2004 (Summary note available in English and Russian). Two ad hoc Task Forces of the Russian Corporate Governance Roundtable met to examine policy options in two priority areas: the transition towards international financial reporting standards, and dealing with problems arising from related party transactions and the closely linked issue of transparency of beneficial ownership and control.
|
| 2003 |
2-3 October: Roundtable Meeting - Implementation and Enforcement of Disclosure Rules
|
| 2002 |
15th April: Roundtable Meeting- White Paper for Corporate Governance Reform
24-25 January: Final Consultative Meeting on the White Paper
|
| 2001 |
20-21 June: Roundtable Meeting
|
| 2000 |
15-16 November: Roundtable Meeting
|
| 1999 |
31 May - 2 June: Roundtable Meeting
|
Partners of the Russian Roundtable
-
The Federal Commission for the Securities Market and the Ministry of Economic Development and Trade are the key institutional partners in Russia
-
Law-makers, securities markets institutions, the corporate sector, investors, stakeholders and select legal, financial accounting professionals and academics from Russia and OECD countries partake actively.
-
The Russian Corporate Governance Roundtable receives financial support from the European Commission under its Tacis Program and the Global Corporate Governance Forum.
General information on the OECD Corporate Governance Regional Roundtables.
|
