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15-17 November 2000
The OECD/World Bank sponsored Russian Corporate Governance Roundtable met for the third time in Moscow on 15-17 November to assess the quality of information disclosure in Russian enterprises. Building on a process established 18 months ago, high-level government officials and business leaders met with international experts and investors to explore the role of disclosure in improving the investment climate in Russia; to improve the understanding of the practices in this area and consider impediments to the implementation of better disclosure standards in Russia; and thereby to help guide future reform efforts in Russia, identifying key areas for improvement both at the regulatory level and in private practice. The first draft of the White Paper, an agenda for action on corporate governance with concrete recommendations addressed to specific institutions involved in reforms, was also discussed for the first time. A private-to-private dialogue was launched between major Russian companies and institutional investors.
Materials
- Issues in Corporate Governance and Disclosure in Russia by Dmitry Glazunov, Commissioner, Federal Commission for the Securities Market (FCSM), Russia ( In Russian )
- Accounting Reform Issues in Russia by Mikhail Motorin, Deputy Minister, Ministry of Finance, Russia ( In Russian )
- Financial Transparency and Corporate Governance by Andrey Sharonov, Deputy Minister, Ministry of Economic Development and Trade, Russia ( In Russian )
- Audit reform in Russia by Andrey Petrov, Deputy Minister, Ministry of Finance, Russia ( In Russian )
- Disclosure: a Corporate Governance tool that really works? by Mr. Richard Frederick, Principal Administrator, OECD ( In Russian )
- Enforcement Problems Relating to Existing Information Disclosure Legislative Requirements by Tatyana Medvedeva, Senior Advisor, Centre for Capital Market Development Foundation; and Alexei Timofeyev, Adviser, Centre for Capital Market Development Foundation, Russia ( In Russian )
- Role of the exchanges in the disclosure of non-financials by Mr. Sergey Rodionov, Vice-President, Russian Trading System (RTS), Russia ( In Russian )
- Role of the Exchanges in Setting Corporate Governance Standards by Mikhail Laufer, Member of Executive Board-Director Equities & Bonds Market, Moscow Interbank Currency Exchange (MICEX), Russia ( In Russian )
- Role of Self-Regulatory Organizations in Improving Channels for Information Disclosure by Mr. Ivan Tyryshkin, Chairman of Executive Board, National Association of Securities Market Participants (NAUFOR), Russia ( In Russian)
- On Information Disclosure Limits after Bringing a Bankruptcy Action Against a Joint Stock Company by Oleg Naumov, Chief of the Analytical Department for Court Practice, Supreme Arbitrazh Court, Russia ( In Russian )
- Practices of Non-Executive Directors in Russian Companies by Oleg Fedorov, Member of the Management Board, National Association of Securities Market Participants (NAUFOR), Russia ( In Russian )
- Practical Difficulties in Introducing Audit Committees in a Russian Company by Alexander Semeniaka, Member of the Management Board, Director of the Long-Term Financing and Securities Department, OAO Gazprom, Russia ( In Russian )
- Practical Difficulties in Introducing Audit Committees in a Russian Company by Alexander Kolesnikov, Head of Investor Relations Department, OAO UES, Russia ( In Russian )
- Information Disclosure and the Existing Practice of Corporate Governance in this Sphere by Alexander Ikonnikov, Executive Director, Investors Protection Association, Russia ( In Russian )
- Efforts by the Czech Securities Commission to Improve Disclosure by Tomas Jezek, Czech Securities Commission, Czech Republic ( In Russian )
- Boards and the Audit Function by Léo Goldschmidt, Chairman of the Corporate Governance Committee, European Association of Securities Dealers (EASD) ( In Russian )
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