IOSCO 2011

Panel 3

PANEL 3
A NEW WORLD ORDER FOR CORPORATE GOVERNANCE?
ISSUES AND RECENT INTERNATIONAL GOVERNANCE TRENDS

PANELISTS


Judge Mervyn King	Johan van Zyl	John Collins Coffee	Phil Armstrong
Chairman: King Committee on Corporate Governance	Chairman: Association for Savings and Investment SA	Professor of Law, Columbia University Law School	International Finance Corporation

MODERATOR

Arunma Oteh
Director General:
Securities and Exchange Commission; Nigeria

DESCRIPTION

One could argue that sound corporate governance revolves around effective leadership, sustainability and corporate citizenship. Responsible leaders direct company strategies and operations with a view to achieving sustainable economic, social and environmental performance. Business decision makers are therefore required to adopt a holistic approach to economic, social and environmental issues in their core business strategy that will allow them to effectively manage business opportunities and risks.

TOPICS

Should the governance of corporations be on a statutory basis (comply or else regime), or as a code of principles and practices (comply or explain basis), or a combination of the two? What are the leading issues and trends in corporate governance, with specific reference to the board’s responsibilities, remuneration of directors and senior executives, the governance of risks and information technology, risk-based internal audit, the management of conflict of interest, integrated sustainability reporting & disclosure, the increasingly direct role being played by shareholders in the governance of corporations and the growing involvement of governments in the governance of corporations (particularly in conjunction with the government bail-out of financial and other firms in the past)? What should the role of regulators and exchanges be in guiding or leading the discussion on corporate governance?

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