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The OECD Steering Group on Corporate Governance co-ordinates and guides the Organisation's work on corporate governance and related corporate affairs issues, including state-owned assets, market integrity, company law, insolvency and privatisation. The Steering Group is chaired by Dr Marcello Bianchi of CONSOB, the Italian financial markets regulator, and is serviced by the Corporate Affairs Division in the Directorate for Financial and Enterprise Affairs.
The Steering Group has issued a revised version of the original OECD Principles of Corporate Governance. The review of the principles was supported by a survey (version française) of corporate governance developments in OECD countries, which was carried out in 2002-2003. In addition, the OECD has released a synthesis of experiences gained from the Regional Corporate Governance Roundtables.
In 2006, the Steering Group responded to requests by issuing the Methodology for Assessing the Implementation of the OECD Principles. This will also be used by the World Bank in its country corporate governance assessments (ROSC). The Steering Group has now moved to examining particular issues that are arising in the area of corporate governance, using where appropriate the Methodology. These studies about implementing the OECD principles include to date the implications of alternative investors for corporate governance and the issue of proportionality from the perspective of the Principles.
In the interest of broadening the opportunity to participate, the OECD Steering Group on Corporate Governance, charged with the review, asked for public comment on the draft text of the revised Principles. Comments were received from approximately 70 individuals and organisations.
In September of 2002, the Steering Group also asked its Working Group on Privatisation and Governance of State-Owned Assets to develop a set of non binding guidelines for corporate governance of state-owned enterprises, with the view to making them a complementary instrument to the OECD Principles of Corporate Governance. The Guidelines were published in September 2005
A central part of the Steering Group's mandate is to guide and support OECD's outreach activities in the area of corporate governance, which takes place within the framework of the OECD Global Forum on Governance. A key feature of this work is the Regional Corporate Governance Roundtables that have been established in Asia, Russia, Latin America, South Eastern Europe and Eurasia. These Roundtables are organised in co-operation with the World Bank Group.
The Steering Group held its most recent meeting on 13-14 November 2007 and will meet again on 16-17 April 2008.
For further information please contact: Mr. Grant Kirkpatrick, Principal Administrator, Corporate Affairs Division, email: corporate.affairs@oecd.org
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