Thematic peer review on corporate governance – Summary Terms of Reference
The terms of reference provide details about the FSB’s peer review on the implementation of the G20/Organisation for Economic Co-Operation and Development (OECD) Principles of Corporate Governance (September 2015) (Principles), which is one of the FSB key standards for sound financial systems. The Principles cover a range of areas, including governance frameworks, disclosure and transparency, and responsibilities of the board, to name just a few. The overarching objective of the review is to take stock of how FSB member jurisdictions have applied the Principles to publicly listed, regulated financial institutions, identifying effective practices and areas where good progress has been made while noting gaps and areas of weakness. It will also inform work that is underway to revise the OECD’s Assessment Methodology that is used by the World Bank as the basis for country assessments undertaken as part of its Corporate Governance Report of Standards and Codes initiative and will provide input to governance-related aspects of the FSB’s broader work on conduct for financial institutions.
The summarised terms of reference provide details on the objectives, scope and process of this review. A questionnaire to collect information from national authorities has been distributed to FSB members. The responses will be analysed and discussed by the FSB later this year. The peer review report will be published in early 2017.
Feedback should be submitted by 9 September to [email protected] under the subject heading “FSB Peer Review on Corporate Governance.” Submissions will not be made public.