Participation in external events and activities
The OECD (Organization for Economic Co-operation and Development) started a dialogue on corporate governance with Asian countries through an Asian Roundtable on Corporate Governance in 1999, following the Asian financial crisis. The annual Asian roundtable serves as a regional forum for structured policy dialogue on corporate governance in Asian countries, with the aim of raising awareness of corporate governance and to develop a regional self-awareness of corporate governance successes and areas of further reform. Hong Kong is one of the core members.
The Institute has been an active participant in the Asian roundtable, and has nominated representatives who attend every annual Asian roundtable since the first one held in Seoul in 1999. The Institute jointly hosted the second Asian roundtable in Hong Kong with the Stock Exchange of Hong Kong (HKEx) and the Securities and Futures Commission (SFC) in 2000. In 2008, the Institute again co-hosted the Asia roundtable in Hong Kong with the SFC, Hong Kong Institute of Chartered Secretaries (HKICS) and the Hong Kong Institute of Directors (HKIoD).
In 2003, the Asian Roundtable published a "White Paper on Corporate Governance in Asia", which put forward six broad recommendations for corporate governance reform in the region, namely,
- Raise awareness
- Improve enforcement
- Adopt international standards and practices
- Improve board performance
- Protect minority shareholders
- Improve bank governance
Government working group on corporate governance
In 2004, the Financial Services and the Treasury Bureau (Financial Services Branch) (FSTB) set up a working group on corporate governance, chaired by the permanent secretary, and comprising representatives from the SFC, HKEx, the Institute, HKICS and HKIoD. The purpose of establishing the working group is to set out past achievements and to come up with new ideas and initiatives to promote good corporate governance in Hong Kong.
Information on corporate governance-related activities conducted by the members of the working group and on plans for future activities, is maintained by the FSTB as a mission statement and marketing tool to promote corporate governance in Hong Kong.