Key Supervisory and Regulatory Initiatives

MARKET CONDUCT

Enhancing Corporate Governance
During the year, the Council on Corporate Disclosure and Governance (CCDG) reviewed the existing Code of Corporate Governance. The Code sets out recommended practices for listed companies on board matters, remuneration matters, accountability and audit, and communication with shareholders. The objective of the review was therefore to introduce improvements to the Code, taking into account feedback received since the inception of the Code and international developments in corporate governance. A public consultation on the proposed revisions to the Code was conducted from 1 December 2004 to 15 February 2005.