ICGN Global Corporate Governance Principles
The Principles generally endorse the OECD Principles of Corporate Governance (2004) and in addition highlight elements that ICGN members take into account when making investment decisions.
Member Opinion Surveys
The ICGN conducts ad-hoc member opinion surveys on a range of issues. The survey analysis helps the ICGN to reflect market experience and opinion when forming responses to policy consultations. The latest survey was conducted in 2007 and focused on investor priorities for reform in financial reporting and auditing.
Commissioned Reports
The ICGN on occasion commissions reports to help support the development of ICGN best practice guidance which can be viewed by clicking on the links below:
Cross Border Proxy Voting: case studies from the 2002 proxy season (2002)
A report commissioned by the ICGN to examine how cross border proxy voting works in practice.
Share Lending vis-a-vis Voting - a report commissioned by the ICGN (2004)
A report on the impact of share lending on voting and other indicia of shareholder ownership and participation.
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Best Practice Consultations
ICGN guidance is kept under regular review to ensure they are timely and relevant. All initiatives are subject to extensive consultation with members before being put forward for formal adoption.
Using the guidance
“The ICGN Securities Lending Code of Best Practice has served as an excellent reference for the Australian Institute of Company Directors (AICD) to gain a better understanding of investors’ views on this extremely topical and important matter. Over 23,000 members have access to the guidelines via a link on the AICD website, at events, briefing sessions, policy statements, submissions and journal articles. The AICD has an ongoing program of engagement with investors on a wide range of issues and the ICGN Securities Lending Code of Best Practice plays a useful part in this process.”
Robert Elliott,
General Manager, Policy & General Counsel, Australian Institute of Company Directors
Best Practice
The ICGN’s mission is to raise standards of corporate governance worldwide. To that end, ICGN Policy Committees bring together expertise and perspectives across borders to develop best practice guidance that provide practical help to market participants in continually raising standards in corporate governance. In addition, the ICGN actively promotes research in corporate governance by commissioning surveys on member opinion on key issues.
ICGN Best Practice Guidance
Click on the links below to access ICGN Best Practice guidance.
To request a full copy of ICGN Guidelines, please contact the Secretariat at secretariat@icgn.org. Members can easily access full guidelines via the Member’s area of the website.
Global Corporate Governance Principles: Revised (2009) [short version]
The Principles aim to assert standards of corporate governance to which the ICGN believes that all companies should aspire. The Principles are intended to be of general application around the world, irrespective of legislative background or listing rules. These Principles are the ICGN’s overarching set of Principles.
What Investors Want from Financial Reporting - Accounting & Auditing Practices Committee Position Paper
This document is a living document and whilst it is an indication of the key issues for investors in financial accounts at this point in time it is not necessarily complete and will be continually improved and updated.
Corporate Risk Oversight Guidelines [short version]
The objective of these guidelines is to help investors assess how well a portfolio company’s board either unitary or supervisory is effectively overseeing risk management. The guidelines are intended to be used by institutional investors who own stakes in corporations in all jurisdictions.Non-executive Director Remuneration Guidelines & Policies [short version]
The guidelines are primarily addressed to companies and their non-executive board members, and set out key remuneration principles which are recommended to be applied by companies regardless of their domicileStatement and Guidance on Anti-corruption Practices (2009)
The Statement provides initial guidance to investors in the form of questions to ask company representatives around anti-corruption policies and procedures, enforcement, transparency and voluntary initiatives.
Statement and Guidance on Non-financial Business Reporting (2008)
The Statement sets out criteria to assist companies in meeting the expectations of investors on non-financial business reporting.
Securities Lending Code of Best Practice (2007)
The code clarifies the responsibilities of all parties engaged in stock lending. Read earlier editions and drafts.
Statement of Principles on Institutional Shareholder Responsibilities (2007)
The statement highlights the responsibilities of investors both in their external role as owners of equity and their internal governance responsibilities to their beneficiaries. Read earlier editions and drafts.
Executive Remuneration Guidelines (2006)
The guidelines focus on how companies should be structuring pay for the long term, disclosing policies and seeking shareholder support. Read earlier editions and drafts.
Global Corporate Governance Principles (2005)
The principles endorse the OECD Principles of Corporate Governance and provide guidance around issues of particular concern to the ICGN. Read earlier editions and drafts.
Principles for a Model American Depositary Receipts Agreement (2004)
A model contract developed to help shareholders ensure that their votes are cast across borders in line with their policy when using third party instruments.
Statement on Expensing of Stock Options and Share-based Remuneration (2003)
The ICGN’s position on the recognition of stock options and other share based payments as an expense on issuing company’s financial statements.