Capital Market Authority to organize workshop on definition of independent director
- Oman: Saturday, January 19 - 2013 at 11:14
- PRESS RELEASE
The Capital Market Authority is to organize a discussion workshop on the new definition of independent director and related parties in the Code of Corporate Governance of public joint stock companies on Sunday 20th January 2013 under the auspices of HE Sheikh Abdullah Salim Al Salmi, Executive President of the CMA.
The workshop aims at opening communication and dialogue conduits between CMA, the companies and legal advisors to explain the recent moves of CMA in approving the new amendment to the definition of independent director and to acquaint with the motives behind such amendment and the goals intended therefrom through application of the new definition and ways for overcoming the challenges facing the companies in such application.
CMA has issued circular No. 14/2012 on 24th October 2012 on the new definition of independent director and related parties in the Code of Corporate Governance for the best application of corporate governance principles to enhance investor confidence in the MSM and to protect shareholders' rights.
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