Members of a committee appointed by the securities watchdog plan to propose measures that will improve the dismal corporate governance practices in listed companies.
The SEC appointed committee would have its first meeting soon to discuss how it will approach the issue.
rnMembers of the committee say the biggest challenge facing them is to see how they could improve implementation of better corporate governance.rn
rnldblquote We should try to get into implementational level of codes rather than refining the codes and finally find that code is just a dead letter. Push for implementation and expose the companies that do not practice those.
That way we will be serving the investors better, dblquote says Ranjith Fernando, SEC Corporate Governance Committee.
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rnExperts say active participation of all shareholders and stakeholders is key to make any voluntary code on corporate governance stick.rn
rnldblquote Without mechanisms of enforcement there is no point of having a code and organizations ca