Stavrinakis, Spyros G.
[VerfasserIn];
Harm, Christian
[VerfasserIn];
Llewellyn, David T.
[VerfasserIn];
Gandy, Bridget
[VerfasserIn];
Shaw, Peter
[VerfasserIn];
Tebbutt, Peter
[VerfasserIn];
Young, Mark
[VerfasserIn]
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Medientyp:
Elektronischer Konferenzbericht
Titel:
Corporate Governance in Financial Institutions
Beteiligte:
Stavrinakis, Spyros G.
[VerfasserIn];
Harm, Christian
[VerfasserIn];
Llewellyn, David T.
[VerfasserIn];
Gandy, Bridget
[VerfasserIn];
Shaw, Peter
[VerfasserIn];
Tebbutt, Peter
[VerfasserIn];
Young, Mark
[VerfasserIn]
Erschienen:
Vienna: SUERF - The European Money and Finance Forum, 2007
Anmerkungen:
Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
Beschreibung:
On 29th - 30th March 2007, SUERF and the Central Bank of Cyprus jointly organized a Seminar: Corporate Governance in Financial Institutions. The papers in the present publication are based on a sample of the presentations at the Seminar. Together, the papers illuminate a number of key issues in corporate governance in a variety of financial firms. In the first paper based on a keynote address, Spyros G. Stavrinakis, Central Bank of Cyprus gives an overview of the legal framework for corporate governance in financial institutions in Cyprus. According to a Central BankDirective issued in 2006, implementation of corporate governance principles is mandatory for all banks incorporated in Cyprus and their overseas branches and for some Cyprus branches of foreign banks domiciled outside the European Economic Area. Banks are obliged to have a robust internal governance framework, consistent lines of reporting and effective risk identification, management, monitoring and reporting procedures for all the risks to which credit institutions are actually or potentially exposed. The board of directors should take the lead in establishing and approving ethical standards and corporate values for itself and for the bank's senior executive management. Potential conflicts of interest should be identified, prevented or appropriately managed. Each bank should maintain a compliance function that monitors compliance with rules, regulations and policies. Clear lines of responsibility and accountability should be set and enforced. New members of the board of directors as well as the senior executive managers of banks have to be vetted and approved by the Central Bank of Cyprus for their " fitness and properness." In order to ensure transparency concerning the implementation of the principles, each bank's corporate governance framework should be disclosed in the bank's annual report and on its public website. In the second paper by Christian Harm, University of Muenster, "The Governance of the Banking Firm" the author builds on the ...