Laws and regulation from around the globe, from corporate governance in the Philippines and Malaysia, to Brexit principles and anti-money laundering obligations in Europe.
View of the skyline of Makati in Metro Manila, the Philippines. Photo: Jon Bilous, Shutterstock
Philippines faces corporate governance 'obstacles'
The biggest obstacle to raising corporate governance standards in the Philippines to a regional and global par is the failure of local listed companies to adapt to key regulations under the new corporate governance code, according to the country’s corporate regulator.
The new code, implemented at the start of 2017, comprises new regulations for listed firms in the Philippines which include enhanced responsibilities for the board of directors, improved risk management responsibilities, as well as advice on how to maintain board independence and to improve decision-making.
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An investigation by the bank, which invests Norway's oil revenues, revealed G4S had "behaved in a manner which is at the limit of, or outside, accepted norms" with regard to its treatment of migrant workers in Qatar and UAE.
Inadequate investment in compliance is now the biggest threat to a company’s bottom line. Simon Airey and Joshua Domb of law firm DLA Piper argue that time and resources devoted to compliance will pay dividends.
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