The OECD has released its revised principles on corporate governance as part of the G20 meeting in Turkey.
The principles are intended as a template for national authorities seeking to ensure best practice in corporate governance.
The OECD said in a statement: “The rationale for the review was to ensure the continuing high quality, relevance and usefulness of the Principles taking into account recent developments in the corporate sector and capital markets. The outcome provides policy makers, regulators and other rule-making bodies with a sound benchmark for establishing an effective corporate governance framework.”
The principles come as part of the 12 action points of the Financial Stability Board, the body set up by the G20 in 2009 to ensure better financial regulation and markets in the wake of the financial crisis.
The principles were revised from 2014 and build on OECD principles first drafted in 1999.