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The G20, supported by the OECD, is an international forum that addresses global economic and financial issues, providing guidance on corporate governance through the G20/OECD Principles. The Revised Code of Corporate Governance aims to ensure integrity, accountability, and transparency in publicly listed companies, outlining key governance principles and stockholder rights. The updated code is designed to enhance investor trust and improve economic opportunities by promoting better corporate governance practices.

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2 views

Reporting Notes

The G20, supported by the OECD, is an international forum that addresses global economic and financial issues, providing guidance on corporate governance through the G20/OECD Principles. The Revised Code of Corporate Governance aims to ensure integrity, accountability, and transparency in publicly listed companies, outlining key governance principles and stockholder rights. The updated code is designed to enhance investor trust and improve economic opportunities by promoting better corporate governance practices.

Uploaded by

ralphianrivera29
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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G20 OECD/Organization for Economic Co-operation and Development – the purpose of this is It

brings together leaders and policymakers from the world's major economies to discuss key
economic, development and social issues.

The oecd has been advising the g20 or group 20 since 2009, helping the leaders to make a better
decesions with global issues. The oecd works with g20 meetings and finance leaders to create
the standards

Principles It helps the governments to improve the rules and the system for managing
companies. The Principles also provide guidance for stock exchanges, investors, corporations and
others that have a role in developing good corporate governance.

The Group of Twenty (G20) is an international forum of both developing and developed countries
which seeks to find solutions to global economic and financial issues.

The G20 comprises 19 countries and two regional bodies, namely the European Union and the
African Union.

The G20/OECD Principles of Corporate Governance - it helps policy makers evaluate and improve
the legal, regulatory and institutional framework for corporate governance. They identify the key
building blocks for a sound corporate governance framework and offer practical guidance for
implementation at the national level. The Principles also provide guidance for stock exchanges,
investors, corporations and others that have a role in developing good corporate governance.

The Revised Code of Corporate Governance, provides a framework to ensure that publicly listed
companies operate with integrity, accountability, and transparency.
Contents in the new code of corporate governance

1. Rules of Interpretation - If there is any confusion in understanding or applying the code, it


should always be interpreted in a way that supports transparency, fairness, and
accountability for the stockholders and investors
2. Board Governance - is in charge of leading and managing the company. They create policies
to help the company achieve its goals and ensure the management is working properly by
providing an independent check on their actions.
3. Adequate and timely information - Management must provide the Board with complete
and timely information so they can make informed decisions during meetings.
4. Accountability and audit - The Board must give stockholders a clear and fair report about
the company's performance, position, and risks.
5. Stockholders rights and protection of minority stockholders interest - Stockholders have
rights,
1.including voting on important decisions,
2.buying new shares first- if a company issues new shares, existing shareholders get the
first chance to buy them before they are offered to others.,
3.checking company records,
4.receiving company information,
5. getting dividends (Shareholders have the right to receive a share of the company’s profits
if the company decides to distribute them.), and
6.having the right to fair valuation of shares (If the company makes big changes (like
merging with another company), shareholders can demand to be paid a fair price)
6. Governance self rating system - The Board can create a system to evaluate its performance
and that of Management based on the Code's criteria.
7. Disclosure and transparency - Transparency is key to preventing misuse of company
resources or assets.
8. Commitment to good corporate governance - Companies must create and follow their own
governance rules based on this Code.
9. Regular review of the code and the scorecard - The Commission will check if companies
follow this Code by asking for reports and reviewing them regularly to ensure the rules are
effective.
10. Administrative Sanctions - Companies that break the rules may be fined up to ₱200,000 per
year, in addition to other possible penalties under the law. If a company also violates
securities laws, separate penalties will apply.
January 3, 2017 the IFC and SEC introduce the new corporate governance code for publicly listed
companies, which provides a framework to ensure that publicly listed companies operate with
integrity, accountability, and transparency. Moreover, This new code improve the work of their
BOD’s, making sure that they would have great decision. It also protects the rights of shareholders,
ensuring that they are treated fairly, and it requires the company to show clear and honest financial
and non-financial reports, so that everyone would be able to know the performance of the
company.

The IFC and SEC updated the corporate governance to improve the rules and attract more
investors. Studies shows that investors trust companies with good governance.

With this new improved rules, it would improve our economy and it will open for more
opportunity, and better businesses.

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