Basel Committee issues corp gov guidelines

BASEL, SWITZERLAND – The Basel Committee on Banking Supervision has issued sound corporate governance guidelines for banking organisations. The guidelines, open for public comment until October 31, are to supersede similar principles it issued in 1999.

The document, Enhancing corporate governance in banking organisations, outlines eight corporate governance principles that boards of directors at banking organisations must pay attention to.

For the US, the principles represent best practices that are mostly already being examined for in the country's banks. "We will treat these as best practices in corporate governance, most of which are already covered in our evaluation of management supervision and board oversight in our banks," says Karen

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