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Center for Corporate Governance Russia and CIS contains handy stock of governance research and expert opinions, as well as hands-on information on corporate governance in Russia and the CIS.

 

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Deloitte presents its Director 360° report on the results of its survey of non-executive directors

The Deloitte Global Center for Corporate Governance is pleased to present the latest edition of its annual global director survey: Director 360°: Growth from all Directions.

This survey, now in its third consecutive year of publication, provides Deloitte’s perspective on boardroom concerns directors face around the world. Our analysis is the culmination of Deloitte’s extensive interviews and surveys with 317 directors at public and private companies across 15 countries; this represents an increase from last year’s director participation of 288 directors. Our Director 360° results highlight changes in key governance, regulatory, and compliance concerns, that companies around the world are facing in today’s challenging business environment.

Learn more from the full report, available above in PDF format.

OECD Russia Corporate Governance Roundtable Session

OECD Russia Corporate Governance Roundtable Session took place in Moscow on 22-23 October 2013. The implementation strategy for the revised Corporate Governance was the session’s central theme. Although not yet formally adopted, the revised draft of the Code has been released and can be accessed here (in Russian). The Bank of Russia is the new owner of the Code; It is expected to release and sign off on a final version. Some of the governance principles presented in the draft version, however, have been reflected in the new listing rules issued by the Federal Service for Capital Markets on 30 July 2013. The Service has subsequently become part of the Bank of Russia.

The agenda and meeting materials of the Roundtable session can be found here.

New Corporate Governance Code

A draft of a Corporate Governance Code was published (in Russian) on the web site of the Russian Federal Service for Financial Markets (FSFM). This document represents a deep review of the Code of Corporate Conduct presented in 2002 and reflects changes in Russian Law, the experience with implementation of the effective Code, and introduces new requirements informed by the international experience. Deloitte Center for Corporate Governance in the CIS is proud to have contributed to the draft.
A presentation and public discussion of the draft tool place within the framework of the OECD Corporate Governance Roundtable on 15 May 2013. The Roundtable documents, including a submission from the international investors, are available here>>

Seminar on executive compensation

A seminar on executive compensation practices took place on 11 April 2013 on the premises of the Moscow Exchange. The seminar, jointly organized by Deloitte and the Moscow Exchange, provided an overview of evolving international best practices, as well the practical aspects of executive pay at Russian companies. Seminar handouts are avaliable hereby. Agenda and five presentations: 1. Mitul Shah (Deloitte UK), 2. Tatyana Ryabova (Tele2), 3. Elena Pastukhova (The Moscow Exchange), 4. Geoffrey Townsend (Raspadskaya), 5. Alexander Shevchuk (Investor Protection Association).

Survey of corporate governance structures at public Russian companies

cgThe new survey of corporate governance structures at public Russian companies was released on 7 December 2012. The survey, conducted by the Deloitte Center for Corporate Governance in the CIS, was presented in a joint Corporate Governance seminar with Moscow Exchange. The survey addresses the ownership structure, composition and compensation practices on Russian boards, dividend policies and market characteristics of 135 public Russian companies. Seminar handouts are avaliable in Russian on the Russian web page of Deloitte Corporate Governance Center in the CIS.

OECD Russia Corporate Governance Roundtable Session

OECD Russia Corporate Governance Roundtable Session took place in Mosow on 25-26 October 2012. Within the framework of Roundtable, several issues in Russian corporate governance were raised including board formation, takeovers, tender offers and squeeze-outs, alternative dispute resolution mechanisms in the securities market. Deloitte Center for Corporate Governance in the CIS played an active role in Rountable. You can find more information about the event at the Roundtable Web Site.

Research "An Insider's View on Corporate Governance in Russia"

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 The public presentation of results of a joint research project by Deloitte Centre for Corporate Governance and the National Union for Corporate Secretaries (NOKS) took place on the 19th of October 2012 at the Moscow office of Deloitte. The research titled "An Insider's View on Corporate Governance in Russia" is based on a survey of corporate secretaries of Russian companies, and provides a unique opportunity to get a glimpse of the Russian corporate governance practices through the eyes of its actors. Alexander Semenov, Editor-in-Chief of Aktsionernoe Obshchestvo (Joint-Stock Company) magazine and a member of the NOKS Board, opened the event. The results of the survey were presented by Oleg Shvyrkov, Director for Corporate Governance at Deloitte CIS.

The III International Conference on Corporate Governance

The III International Conference on Corporate Governance, with a theme "Global Capital Markets and Corporate Governance: Quest for Global Standards" took place in Moscow on 31 May and 1 June 2012. Deloitte CIS is proud to have served as a General Sponsor of the Conference. The conference attracted Russian and foreign officials, representatives of largest companies and leading experts in the area of corporate governance. Conference program and other documents can be accessed on the website of National Council for Corporate Governance.

OECD Russia Corporate Governance Roundtable Seminar

OECD Russia Corporate Governance Roundtable held seminar on 30 March 2012 in Moscow. Three questions were disscussed during the seminar: 1. role of the stock exchange in setting corporate governance standards; 2. disclosure and transparency of listed companies; 3. enforcement of insider trading and market manipulation laws. Learn more on OECD official site.

Benchmarking

The audit committee self-assessment checklist

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The London Stock Exchange has attracted many issuers from the CIS. For this and other reasons, the UK standards and regulations of corporate governance are relevant for many companies in the region. The audit committee self-assessment checklist will help the audit committee members to assess its performance against the standards presented ib the UK Corporate Governance Code.

Comments on adoption of International Financial Reporting Standards in Russia

Adoption of International Financial Reporting Standards in Russia. Comments from Alla Saltykova, Audit Partner from Deloitte CIS.

This commentary was published by CFO-Russia on 10 January 2012.

Comment on Center for Corporate Governance opening

David Owen, CEO, Deloitte CIS

David Owen"As a leading provider of professional services we have a keen interest in seeing the financial markets of the CIS grow in integrity, scale and depth. The impact of our services is linked to the overall strength of financial markets - and this strength can only be based on strong institutions and investors' trust. Corporate Governance standards represent an important part of these fundamentals.

We are pleased to contribute to the development of Corporate Governance practices in the CIS by opening a Deloitte Corporate Governance Center in Moscow. This will serve as a forum to exchange ideas, experiences, and research in Corporate Governance. We hope that this initiative will bring together board members, executives, investors and regulators and promote general understanding and acceptance of strong governance practices."