Corporate governance rules are being made on a global spectrum with Italian Finance Minister Giulio Tremonti issuing sweeping proposals for international regulation in response to the financial crisis, according to Global Proxy Watch.
He will present them at the G7 meeting in Rome on February 13. He called for a combination of voluntary and binding codes on everything from governance to bribery to financial information disclosure.
Italy currently holds the rotating presidency of te G7, and is already working with the Organization for Economic Cooperation and Development (OECD) to develop standards with the OECD’s Principles of Corporate Governance.
The OECD has finalized plans to gather reform ideas at a March 18 meeting in Paris. The session will convene business, shareholders, and other stakeholders to discuss executive remuneration, board responsibility, and investor rights.