CORPORATE GOVERNANCE ISSUES IN BANKING SECTOR
10/14/2019 - 10/18/2019 at Pretoria, South Africa
The Global Financial Crisis has resulted in an overhaul of the global financial regulatory and supervisory architecture and has been instrumental for a paradigm shift in the manner in which financial institutions classify, measure and manage various categories of risk. The scope of banking regulation and supervision has also been extended to include elements of Corporate Governance. Consequently, the international standard setters issued revised/enhanced standards relating to Corporate Governance. The Basel Committee on Banking Supervision (BCBS) in 2015 issued Corporate Governance Principles for Banks, which focus on addressing deficiencies at the level of Board of Directors. The organization of Economic Co-operation and Development (OECD) has also issued revised Corporate Governance standards. IMF’s initiatives on Governance and Corruption resulted in publication of the policy papers in August 2017. The Financial Stability Board (FSB) has also done considerable work in the area of Corporate Governance including stocktaking of governance practices in major banks and thematic peer reviews.