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BVB, EBRD to review Romanian market corporate governance code

The Bucharest Stock Exchange (BVB) and European Bank for Reconstruction and Development (EBRD) will work together to review the Romanian market's corporate governance code, aligning it with recent regulatory changes and updated global standards.

According to a joint press release issued on Thursday, this joint initiative is designed to help listed companies improve their governance and reporting quality, by aligning with EU regulatory changes affecting governance structures, the latest G20/OECD Corporate Governance Principles and best practice in the field.

"The updated code is expected to provide guidance on emerging issues in governance and reflect the evolving priorities of stakeholders and enhancing their corporate resilience in a rapidly changing world," reads the statement.

The revised version of the Code is meant to be released by the end of 2024, so the first year of reporting compliance with the new Code is 2026 for the financial year 2025. The process of reviewing the Code will take into account the input and insights of all market participants.