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Ministerial Resolution No. 518 Concerning Governance Rules and Corporate Discipline Standards

Current 2009

It requires companies to issue a Governance Report and submitted to the Authority on annual basis, it states the importance of verification of financial/and non-financial reports and states the need for a company's code of conduct to incorporate environmental and social policy towards the local society.

Issuer name

Securities and Commodities Authority

More information

Non-compliance requires companies to submit administrative penalties including suspension of the company's security listing.

Organizations covered by the instrument

Large private and listed companies

Target organization notes

joint stock company whose securities are listed on a Market

Industry scope

All/none specified

Industry scope notes

excluding Banks, finance companies, financial investment companies, money exchange companies, monetary brokerage companies that are under the supervision of the Central Bank; and

Disclosure venue

corporate governance report

ESG coverage- G (Governance)

All

Status

Current

Region

Africa & Middle East

Date of publication

2009

Issuer type

Financial Market Regulators

Reporting requirements

Other e.g. action plan, strategy, programme, voluntary initiative

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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