New mandatory standards on corporate governance are to be imposed on all companies listed on the Colombo Stock Exchange, early next year.
The new standards will be incorporated into the Listing Rules of the CSE, market regulator, the Securities and Exchange Commission said in a statement on Friday.
The standards were drawn up by the Institute of Chartered Accountants and the Securities and Exchange Commission (SEC), guided by similar standards in the US and UK.
“These standards relate to the minimum number of non-executive and independent directors, the clauses for determining ‘independence’, disclosures required to be made by listed companies in respect of the its directorate….”
“…the minimal requirements to be met by listed companies in respect of the audit committee and the remuneration committee,” the statement said.
See full Article.
Posts
