97-1 Guidelines on Corporate Governance for Listed Companies, 2021

Summary

The Guidelines have set a transition period of three years after its official promulgation, meaning companies can apply them on a voluntary basis during this period. Companies that are ready can implement the Guidelines immediately. Following the transition period, companies shall apply the Guidelines under the “comply or explain” approach, meaning that if companies cannot comply with the Guidelines, they must explain any non-compliance and the respective reasoning in their annual reports. The provisions of these Guidelines shall apply to all listed companies on a “comply or explain” basis, except when an element of the Guidelines is already enshrined in law. In the latter case, the law/regulation must be fully applied and complied with.

Thumbnail image for The Guidelines have set a transition period of three years after its official promulgation, meaning companies can apply them on a voluntary basis during this period. Companies that are ready can implement the Guidelines immediately. Following the transition period, companies shall apply the Guidelines under the “comply or explain” approach, meaning that if companies cannot comply with the Guidelines, they must explain any non-compliance and the respective reasoning in their annual reports. The provisions of these Guidelines shall apply to all listed companies on a “comply or explain” basis, except when an element of the Guidelines is already enshrined in law. In the latter case, the law/regulation must be fully applied and complied with.

Issuer

Laos

Year

2021

Region

Asia

Issuer (type)

Lao Securities Commission; International Finance Corporation (Financial Regulator)

Policy Type

Disclosure

Geographical scope

National

Mandatory or voluntary

Voluntary

Main industries targeted

Finance & Insurance
Professional, Scientific, & Technical Services

Restrictiveness

Low

Sustainable Development Goals (SDGs)

SDG 5: Gender Equality
SDG 6: Clean Water and Sanitation
SDG 10: Reduced Inequality
SDG 14: Life Below Water
SDG 17: Partnerships for the Goals