IoD corporate governance seminar

The Institute of Directors (Malta Branch) is holding a half-day seminar at the Corinthia Palace Hotel, Attard, on November 3 at 8.30 a.m. with the title 'Force For Change'. The keynote speaker is Patrica Peter, head of IoD Corporate Governance Policy Unit, in the United Kingdom.

This seminar will be the start of the MFSA consultation process on the Revised Draft Principles. The principles will be an update on the code promoted by the MSE before responsibility for listing regulation passed on to the MFSA.

Certain principles may now become mandatory for listed companies (no longer serving just as a guideline). All principles, mandatory or not, will be incorporated in the Listing Rules.

For listed companies, the draft principles on corporate governance will be incorporated in the listing rules. Listed companies have to abide by them and may be subject to sanctions in their breach.

An adapted version of these principles will be launched as a code providing guiding principles for non-listed and public interest companies.

But it's not just a matter of relevance to stakeholders' deepest interests which should be the motivator to learn more about how corporate governance can be used as a sharp business tool. Good corporate governance is surely recognised by all the leading business nations as the single most effective method of driving responsible management and superior performance. The MFSA, by setting the bar higher for listed companies, may well give them a competitive advantage, unless the private non-listed companies are quick to embrace the spirit of the new law.

With this in mind, the IoD, Malta's leaders in the area of corporate governance, is exploring this topic through a partnership with the MFSA and supported by the FOI. By attending this seminar, Maltese stakeholders will be given the opportunity to access and use international governance practices to improve their business performance, position against non-Maltese market entrants and repel competition.

There will also be a panel discussion which will include Malta's leading legal and financial experts on the subject. Listed companies, company secretaries, and investors on the MSE will be encouraged to give feedback to the MFSA's draft principles on corporate governance.

Delegates will be given a copy of Corporate Governance - practical advice for Directors on today's most important boardroom issue, published by IoD London. The token attendance fee for delegates is Lm15 including VAT.

For seminar registration contact: the honorary secretary, 25, St Anthony Street, Attard BZN 04, call 2124-7400, fax 2124-3173 or e-mail jamesarrigo@waldonet.net.mt.