The Round Table will bring together once or twice a year senior representatives of securities regulators, senior experts from the judiciary, the leadership of stock exchanges, representatives of the financial and securities markets institutions and corporate leaders, as well as representatives of stakeholders and civil society. International experts are expected to participate, including senior representatives from equivalent institutions in selected OECD countries and, possibly, in other transition economies, as well as representatives of international organisations working in this area. To make recommendations for policy implementation and regularly review progress and take stock of corporate governance developments. The decision to set up the Round Table was taken at a meeting in Moscow organised by the OECD and co-sponsored by the World Bank and the U.S. Agency for International Development. Participants included policy makers and senior government officials, representatives of business and social partners, independent experts and other international organisations.
Corporate governance is central for raising much-needed investment in Russian enterprises.
The way enterprises treat their shareholders and other stakeholders impacts directly on their capacity to survive and prosper in the long term, in their ability to generate profits as well as more and better-quality employment. A transparent and accountable corporate sector is also an important prerequisite for a more open economy and society, with integrity and accountability at all levels. There have been many corporate governance abuses in Russia. Investors have often seen their shares diluted by insiders and major shareholders. Companies have seen their assets stripped by various means of transfer pricing and other related- party transactions.