Vicky Bowman (MCRB Director) and Nicolas Delange (Managing Director, Yever) presented at a Breakfast Talk in the Learning Series of the Myanmar Institute of Directors on March 4th, 2020.
Read more:
https://www.myanmar-responsiblebusiness.org/news/corporate-disclosure-in-myanmar.html
Developments in Corporate Governance and Disclosure for Companies in MyanmarEthical Sector
On 6 February, Vicky Bowman, Director of MCRB and Thompson Chau, Myanmar-based business journalist and Director of the Board of the Myanmar-Hong Kong Chamber of Commerce, addressed an event hosted by the Hong Kong Chamber on how online disclosure of corporate information and constructive engagement with the media and other stakeholders can support a more healthy investment climate, as well as build a company’s social licence to operate by facilitating more accurate media coverage of the company and its activities.
Read more: https://www.myanmar-responsiblebusiness.org/news/disclosure-of-company-information.html
A synopsis of the Financial Conduct Authority’s (FCA) latest news and publications issued in April and May 2018.
With GDPR and MiFID II processes now firmly embedded in our daily lives, many of our readers will look back at the months of April and May with a sense of relief.
Willkie Farr & Gallagher Corporate Crime Bulletin September 2017Paul Feldberg
Welcome to Willkie Farr & Gallagher’s Corporate Crime E-Bulletin. This publication provides an update on recent developments in the UK and the US with respect to financial crime and regulatory enforcement, including bribery and corruption, fraud, sanctions, money laundering, market abuse and insider dealing.
Corporate Governance Practices in IranOmid Omidvar
24 companies with various characteristics were selected and one person from each was interviewed to answer the survey.
Interviewees were CEO (11), board member (10), Chairman (3), executive director (4) and CFO (2).
Our report is based on the survey results, the information we collected during interviews and our knowledge of market and CG situation supported by experts and regulators’ points of view.
Developments in Corporate Governance and Disclosure for Companies in MyanmarEthical Sector
On 6 February, Vicky Bowman, Director of MCRB and Thompson Chau, Myanmar-based business journalist and Director of the Board of the Myanmar-Hong Kong Chamber of Commerce, addressed an event hosted by the Hong Kong Chamber on how online disclosure of corporate information and constructive engagement with the media and other stakeholders can support a more healthy investment climate, as well as build a company’s social licence to operate by facilitating more accurate media coverage of the company and its activities.
Read more: https://www.myanmar-responsiblebusiness.org/news/disclosure-of-company-information.html
A synopsis of the Financial Conduct Authority’s (FCA) latest news and publications issued in April and May 2018.
With GDPR and MiFID II processes now firmly embedded in our daily lives, many of our readers will look back at the months of April and May with a sense of relief.
Willkie Farr & Gallagher Corporate Crime Bulletin September 2017Paul Feldberg
Welcome to Willkie Farr & Gallagher’s Corporate Crime E-Bulletin. This publication provides an update on recent developments in the UK and the US with respect to financial crime and regulatory enforcement, including bribery and corruption, fraud, sanctions, money laundering, market abuse and insider dealing.
Corporate Governance Practices in IranOmid Omidvar
24 companies with various characteristics were selected and one person from each was interviewed to answer the survey.
Interviewees were CEO (11), board member (10), Chairman (3), executive director (4) and CFO (2).
Our report is based on the survey results, the information we collected during interviews and our knowledge of market and CG situation supported by experts and regulators’ points of view.
Corporate Governance is not only a legal compliance but is necessary for the optimum growth of a business. A transparent and well-governed company is perceived to be doing business in honest way and contributing in the development and wellness of society. Therefore businesses should adapt system of Corporate Compliance Management to establish and maintain Ethics, Integrity and Accountability in their routine. सत्यं वद, धर्मं चर (Forever Speak the Truth and Follow the Dharma) has been the mantra of good people and same applies to Corporate and Business.
Today I was at Assocham’s 2nd National Conference on Corporate Compliance Management to give my view on the quest for Corporate Governance and necessity of Corporate Compliance Management.
This training material is prepared to understand the basics of Producer Group, its similarities and differences with Self Help Group, examples, types of PG, etc.
Will the UK financial sector be changed for good this year?Browne Jacobson LLP
Included in The RMA Journal, May 2016 | Copyright 2016 by RMA
In the UK, the Parliamentary Commission on Banking Standards, which was established in the wake of the Libor scandal, attributes the sector’s failings to flaws at the heart of its culture. The commission’s key proposals - in its report 'Changing Banking for Good' - have resulted in a new senior managers regime and whistleblowing rules that come into force this year.
https://www.brownejacobson.com/about-us/news-and-media/published-articles/2016/03/will-the-UK-financial-sector-be-changed-for-good-this-year
A detailed perspective of the background, the present functioning and the future possibilities of the merger control regime in India as it unfolds with the passage of time by the architect of merger control in India.
The individual volume of production of the small farmers is low which averts them from reaping benefit of economics of scale. Small farmers can benefit from the economics of scale only through aggregation. Producer organizations are useful for mobilizing individual farmers’ effort into collective action which will be helpful in improving the socio-economic condition of all the members of the group. Organizing farmers will aid in access to resources, information, specialization in commodities, processing and value addition, large-scale operations, market orientation and better bargaining power.
Under the Companies Act, 2013 and its rules, numerous forms have to be filed by the company with the Registrar of Companies. We have prepared a note to help understand the requirement. Some of these forms are to be filed annually by the company and some of them are to be filed only once after the incorporation of the company, Some of the forms are filed when the event takes place, Failure to file these forms attracts heavy penalties.
Myanmar Legal Requirements for Disclosure of Information about Investment: Wo...Ethical Sector
The third Myanmar Digital Rights Forum concluded on 19 January in Yangon with a call for new policy and regulation that would safeguard digital rights in Myanmar, and a fully consultative process to achieve this.
Read more: https://www.myanmar-responsiblebusiness.org/news/digital-rights-forum-2019-report.html
In this edition of Regulatory Focus, the experts in Duff & Phelps’ UK Compliance and Regulatory Consulting team, provide a detailed synopsis of the latest news and publications issued by the Financial Conduct Authority during May and June 2018.
https://www.duffandphelps.com/insights/publications/compliance-and-regulatory-consulting/regulatory-focus-july-2018
Corporate Governance is not only a legal compliance but is necessary for the optimum growth of a business. A transparent and well-governed company is perceived to be doing business in honest way and contributing in the development and wellness of society. Therefore businesses should adapt system of Corporate Compliance Management to establish and maintain Ethics, Integrity and Accountability in their routine. सत्यं वद, धर्मं चर (Forever Speak the Truth and Follow the Dharma) has been the mantra of good people and same applies to Corporate and Business.
Today I was at Assocham’s 2nd National Conference on Corporate Compliance Management to give my view on the quest for Corporate Governance and necessity of Corporate Compliance Management.
This training material is prepared to understand the basics of Producer Group, its similarities and differences with Self Help Group, examples, types of PG, etc.
Will the UK financial sector be changed for good this year?Browne Jacobson LLP
Included in The RMA Journal, May 2016 | Copyright 2016 by RMA
In the UK, the Parliamentary Commission on Banking Standards, which was established in the wake of the Libor scandal, attributes the sector’s failings to flaws at the heart of its culture. The commission’s key proposals - in its report 'Changing Banking for Good' - have resulted in a new senior managers regime and whistleblowing rules that come into force this year.
https://www.brownejacobson.com/about-us/news-and-media/published-articles/2016/03/will-the-UK-financial-sector-be-changed-for-good-this-year
A detailed perspective of the background, the present functioning and the future possibilities of the merger control regime in India as it unfolds with the passage of time by the architect of merger control in India.
The individual volume of production of the small farmers is low which averts them from reaping benefit of economics of scale. Small farmers can benefit from the economics of scale only through aggregation. Producer organizations are useful for mobilizing individual farmers’ effort into collective action which will be helpful in improving the socio-economic condition of all the members of the group. Organizing farmers will aid in access to resources, information, specialization in commodities, processing and value addition, large-scale operations, market orientation and better bargaining power.
Under the Companies Act, 2013 and its rules, numerous forms have to be filed by the company with the Registrar of Companies. We have prepared a note to help understand the requirement. Some of these forms are to be filed annually by the company and some of them are to be filed only once after the incorporation of the company, Some of the forms are filed when the event takes place, Failure to file these forms attracts heavy penalties.
Myanmar Legal Requirements for Disclosure of Information about Investment: Wo...Ethical Sector
The third Myanmar Digital Rights Forum concluded on 19 January in Yangon with a call for new policy and regulation that would safeguard digital rights in Myanmar, and a fully consultative process to achieve this.
Read more: https://www.myanmar-responsiblebusiness.org/news/digital-rights-forum-2019-report.html
In this edition of Regulatory Focus, the experts in Duff & Phelps’ UK Compliance and Regulatory Consulting team, provide a detailed synopsis of the latest news and publications issued by the Financial Conduct Authority during May and June 2018.
https://www.duffandphelps.com/insights/publications/compliance-and-regulatory-consulting/regulatory-focus-july-2018
Asia Counsel Insights gives readers a concise insight into legal and business developments in Vietnam. This edition has news on: offshore securities investments; conditions for opening vocational education centres; and wind power projects.
Legal shorts 05.12.14 including Chancellor’s 2014 Autumn statement and FCA up...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Newsletter on daily professional updates- 23rd September 2019CA PRADEEP GOYAL
The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge
Have a look, here is your Daily dose of professional updates in newsletter form- 23st September, 2019
Asia Counsel Insights provide readers a punchy update on legal and business developments in Vietnam. This edition has news on the new Vietnam competition law decree; integrated teaching programs for students in international schools; and State Bank of Vietnam lending rules for businesses impacted by the pandemic.
In this edition of Regulatory Focus, the experts in Duff & Phelps’ UK Compliance and Regulatory Consulting team, provide a detailed synopsis of the latest news and publications issued by the Financial Conduct Authority during March 2018.
Asia Counsel Insights gives readers a concise insight into legal and business developments in Vietnam. This edition has news on new rules for corporate governance of public companies; proposed changes to the Law on Competition and administrative sanctions in the oil and gas sector.
We have compiled a curated list of some of the more important measures introduced by authorities across Asia-Pacific in a bid to keep the broader risk and compliance community informed.
Regulatory Reforms on Financial Technology Innovation with OJK Regulation No....AHRP Law Firm
OJK has taken a significant step forward with the enactment of OJK Regulation Number 3 of 2024 on the Implementation of Financial Sector Technology Innovation. This pivotal regulation aims to enhance the regulatory framework for financial sector technology innovation, reflecting OJK's commitment, as outlined in Law Number 4 of 2023, to the development and enforcement of the financial sector. With this regulation, OJK updates and expands upon the provisions for digital financial innovation established in the previous OJK Regulation Number 13/POJK.02/2018. Moreover, OJK is set to provide an innovative playground through its Sandbox, fostering a space for trial and innovation development. Find out more about our insights on this topic in our Legal Brief publication.
Asia Counsel Insights gives readers a concise insight into legal and business developments in Vietnam. This edition has news on offshore indirect investments by securities firms, fund managers, insurance enterprises and investment funds; decree on pharmaceuticals trading and the licensing of domain names in Vietnam.
Legal shorts 18.12.15 including mi fid ii fca first consultation and mifid ...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Verbit - The State of Inclusivity, A Global PerspectiveEthical Sector
On 12 January, the Embassy of Israel in Myanmar in collaboration with the Myanmar Centre for Responsible Business (MCRB), Myanmar-Israel Chamber of Commerce, Industry and Innovation (MICCI), and Access Israel held a webinar to share experiences on the role of businesses in making their products and/or services more accessible and inclusive for persons with disabilities in Myanmar.
Read more: https://www.myanmar-responsiblebusiness.org/news/assistive-technologies-b2c-services.html
On 12 January, the Embassy of Israel in Myanmar in collaboration with the Myanmar Centre for Responsible Business (MCRB), Myanmar-Israel Chamber of Commerce, Industry and Innovation (MICCI), and Access Israel held a webinar to share experiences on the role of businesses in making their products and/or services more accessible and inclusive for persons with disabilities in Myanmar.
Read more: https://www.myanmar-responsiblebusiness.org/news/assistive-technologies-b2c-services.html
On 12 January, the Embassy of Israel in Myanmar in collaboration with the Myanmar Centre for Responsible Business (MCRB), Myanmar-Israel Chamber of Commerce, Industry and Innovation (MICCI), and Access Israel held a webinar to share experiences on the role of businesses in making their products and/or services more accessible and inclusive for persons with disabilities in Myanmar.
Read more: https://www.myanmar-responsiblebusiness.org/news/assistive-technologies-b2c-services.html
Labour Issues in the Telecom Sector: Myanmar Labour Laws and Reform PlansEthical Sector
MCRB with the support of mobile operators Telenor and Ooredoo and the participation of the Factories and General Labour Laws Inspection Department (FGLLID) of the Ministry of Labour, Immigration and Population (MOLIP), facilitated a peer-to-peer workshop on 7 October 2016 for mobile network operators and tier 1 and tier 2 subcontractors, and consultants.
Read more: https://www.myanmar-responsiblebusiness.org/news/discussion-issues-telecom-sector.html
Community Grievance Management ExperiencesEthical Sector
MCRB with the support of mobile operators Telenor and Ooredoo and the participation of the Factories and General Labour Laws Inspection Department (FGLLID) of the Ministry of Labour, Immigration and Population (MOLIP), facilitated a peer-to-peer workshop on 7 October 2016 for mobile network operators and tier 1 and tier 2 subcontractors, and consultants.
Read more: https://www.myanmar-responsiblebusiness.org/news/discussion-issues-telecom-sector.html
MCRB with the support of mobile operators Telenor and Ooredoo and the participation of the Factories and General Labour Laws Inspection Department (FGLLID) of the Ministry of Labour, Immigration and Population (MOLIP), facilitated a peer-to-peer workshop on 7 October 2016 for mobile network operators and tier 1 and tier 2 subcontractors, and consultants.
Read more: https://www.myanmar-responsiblebusiness.org/news/discussion-issues-telecom-sector.html
MCRB with the support of mobile operators Telenor and Ooredoo and the participation of the Factories and General Labour Laws Inspection Department (FGLLID) of the Ministry of Labour, Immigration and Population (MOLIP), facilitated a peer-to-peer workshop on 7 October 2016 for mobile network operators and tier 1 and tier 2 subcontractors, and consultants.
Read more: https://www.myanmar-responsiblebusiness.org/news/discussion-issues-telecom-sector.html
MCRB with the support of mobile operators Telenor and Ooredoo and the participation of the Factories and General Labour Laws Inspection Department (FGLLID) of the Ministry of Labour, Immigration and Population (MOLIP), facilitated a peer-to-peer workshop on 7 October 2016 for mobile network operators and tier 1 and tier 2 subcontractors, and consultants.
Read more: https://www.myanmar-responsiblebusiness.org/news/discussion-issues-telecom-sector.html
Workshop on Safety and Labour Issues in the Myanmar Telecoms SectorEthical Sector
MCRB with the support of mobile operators Telenor and Ooredoo and the participation of the Factories and General Labour Laws Inspection Department (FGLLID) of the Ministry of Labour, Immigration and Population (MOLIP), facilitated a peer-to-peer workshop on 7 October 2016 for mobile network operators and tier 1 and tier 2 subcontractors, and consultants.
Read more: https://www.myanmar-responsiblebusiness.org/news/discussion-issues-telecom-sector.html
Virtual Roundtable Discussion with CSOs on Extractives and Inclusive BusinessEthical Sector
On 26 November 2020, MCRB held its first virtual roundtable discussion series with Civil Society Organizations on “Extractives and Inclusive Business”.
Read more: https://www.myanmar-responsiblebusiness.org/news/virtual-roundtable-discussion-extractives-and-inclusive-business.html
On September 25, 2020, AirQualityAsia in cooperation with Green Economy Caucus (GEC), House of Representatives, Indonesia organized a webinar on the theme “Raising Awareness towards Pollution and Its Impacts to Human Health.”
Read more: https://www.airqualityasia.org/news/raising-awareness-towards-pollution.html
Health and Pollution Action Planning (HPAP)Ethical Sector
On September 25, 2020, AirQualityAsia in cooperation with Green Economy Caucus (GEC), House of Representatives, Indonesia organized a webinar on the theme “Raising Awareness towards Pollution and Its Impacts to Human Health.”
Read more: https://www.airqualityasia.org/news/raising-awareness-towards-pollution.html
On September 25, 2020, AirQualityAsia in cooperation with Green Economy Caucus (GEC), House of Representatives, Indonesia organized a webinar on the theme “Raising Awareness towards Pollution and Its Impacts to Human Health.”
Read more: https://www.airqualityasia.org/news/raising-awareness-towards-pollution.html
Dr. Dewi Aryani : Raising Awareness Towards Pollution and its Impact to Human...Ethical Sector
On September 25, 2020, AirQualityAsia in cooperation with Green Economy Caucus (GEC), House of Representatives, Indonesia organized a webinar on the theme “Raising Awareness towards Pollution and Its Impacts to Human Health.”
Read more: https://www.airqualityasia.org/news/raising-awareness-towards-pollution.html
How are Persons with Disabilities in Myanmar Experiencing Covid-19, Including...Ethical Sector
On 22 May, Hnin Wut Yee and Myint Naing Kyaw of MCRB participated in a webinar on Disability Inclusion in Crisis Response organised by the Myanmar Business Coalition for Gender Equality (BCGE) attended by around 50 participants, mainly from civil society organisations, with sign language interpretation.
Read more: https://www.myanmar-responsiblebusiness.org/news/persons-with-disabilities-covid-19.html
Launch of the 2020 Pwint Thit Sa Report research phaseEthical Sector
Companies in January received a letter to inform them of the methodology and timetable for the 2020 report. A workshop on Monday 3 February was held in Yangon attended by over 60 participants to explain the main changes and approach for the 2020 report, and answer initial queries.
Read more: https://www.myanmar-responsiblebusiness.org/pwint-thit-sa/2020.html
MCRB and Yever held a webinar on 14 May to explain the scoring process so far.
Read more: https://www.myanmar-responsiblebusiness.org/pwint-thit-sa/2020.html
Business & Digital Rights (Myanmar Business Associations Status)Ethical Sector
The Fourth Myanmar Digital Rights Forum took place on 28/29 February 2020 at Rose Garden Hotel, Yangon attended by over 350 participants, including senior government officials, MPs, civil society organisations, media, businesses and international human rights and digital rights experts and academics.
Read more: https://www.myanmar-responsiblebusiness.org/news/digital-rights-forum-2020.html
The Fourth Myanmar Digital Rights Forum took place on 28/29 February 2020 at Rose Garden Hotel, Yangon attended by over 350 participants, including senior government officials, MPs, civil society organisations, media, businesses and international human rights and digital rights experts and academics.
Read more: https://www.myanmar-responsiblebusiness.org/news/digital-rights-forum-2020.html
The Fourth Myanmar Digital Rights Forum took place on 28/29 February 2020 at Rose Garden Hotel, Yangon attended by over 350 participants, including senior government officials, MPs, civil society organisations, media, businesses and international human rights and digital rights experts and academics.
Read more: https://www.myanmar-responsiblebusiness.org/news/digital-rights-forum-2020.html
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
2024: The FAR - Federal Acquisition Regulations, Part 38
Corporate Disclosure in Myanmar – Regulatory Requirements and Sustainability Leadership
1. CORPORATE DISCLOSURE IN
MYANMAR: REGULATORY
REQUIREMENTS, AND
SUSTAINABILITY LEADERSHIP
Vicky Bowman, Director, Myanmar Centre for Responsible Business
Nicolas Delange, Managing Director, Yever
Myanmar Institute of Directors Breakfast Briefing
4 March 2020, Yangon
2. What is corporate disclosure?
Corporate Disclosure
Companies NGOs
Government Foundations
WHEN A
SECRET
IS SHARED
EVENTUALLY
PUBLICY
3. Why should we disclose information?
Investors Regulators
We want...We have to...
Peers Customers
COMPLIANCE
Leadership Purpose
Identity
LEADERSHIP
Stakeholders
4. How can we disclose information?
Offline Online
ANNUAL REPORT
NEWS / PRESS
CONFERENCE
WEBSITE
SOCIAL NETWORKS
5. Regulatory/compliance drivers of corporate disclosure in
Myanmar
2017 Companies Law
Securities and Exchange Commission of
Myanmar (SECM) Continuous Disclosure
Requirements
Central Bank of Myanmar Directives
Anti-Money Laundering Law and the
Financial Action Task Force (‘grey-list’)
Myanmar Extractives Industries
Transparency Initiative
Myanmar Investment Law/Rules requires
annual reports for projects with MIC
Permits (Rule 196/199)
Environmental and Social Impact
Assessment
6. Non-regulatory drivers of corporate disclosure in Myanmar
Investor demand
private equity
due diligence requirements of business and
JV partners
International support (particularly UK/Australia):
IFC – CG Scorecard, translation of resources
Myanmar Institute of Directors (MIOD)
OECD (Japan-supported) to support
Myanmar CG Code
Stakeholder pressure
MCRB/Yever’s Pwint Thit Sa/Transparency
in Myanmar Enterprises report
UN Fact Finding Mission report:
transparency/ governance of donations
Media and NGOs
……..and Leadership!
7. Companies Law disclosure requirements
Myanmar Companies Law requires every public
company to circulate a statutory ‘Directors
report’ to every ‘member’ (shareholder) of the
company (S.148(a) and (b), certified by at least
two directors. It must include:
(i) a fair review of the company’s business,
including a description of the company’s
primary business
(ii) an analysis of the company’s performance
during the year,
(iii) a description of risks and uncertainties
facing the company and
(iv) any other matters which may be
prescribed’.
The report must be sent to the Registrar i.e.
DICA (s148e)
7
All reports sent to the Registrar are in principle
publicly available from MyCo.com.mm n payment
of a 10,000 kyats fee per company
8. SECM disclosure obligations for public companies in
Myanmar
Securities and Exchange Commission Notification 1/2016
on ‘continuous disclosure’ requires
Companies listed on the Yangon Stock Exchange
Public companies which are traded ‘over the counter’ or
have SECM approval to raise a public offering
Public companies with > 100 shareholders
To submit:
Annual reports
Half-yearly reports
Extraordinary reports e.g. change of CEO, auditor,
major shareholders with > 20% voting rights, material
lawsuit
And to publish them on the company and SECM website
More details in Pwint Thit Sa pp 26-27 EN and pp 38-40 MM
10. Supported by OECD and Japan
Advisory Committee for Corporate Governance
Reform in Myanmar constituted by the Ministry of
Planning and Finance in January 2019.
Chaired by Marcello Bianchi, former Chair of the
OECD Corporate Governance Committee.
MIFER, DICA, SECM, MICPA, CBM, UMFCCI,
IFC, Hermes, YSX
Feb 2020 endorsed the draft corporate
governance regulation
Compiles existing obligations on internal control
system, Audit Committee, independent directors, and
disclosure.
Regulation to apply to listed companies and public
companies with >100 shareholders.
Regulation planned to published April, come into effect
for October 2020
Forthcoming Corporate Governance Regulation
https://www.dica.gov.mm/en/news/endorsement-
newcorporate-governance-regulation
11. CBM disclosure requirements for banks
Directive on External Auditors of Banks 10/2019
(paras 34-35) effective for 2019-2020 FY
Every bank to publish its audited statement of
financial position and statement of comprehensive
information within 4 months after the FY end together
with the external auditor’s opinion:
in at least one widely read Myanmar newspaper
on its website
exhibit conspicuously all year in each of its offices
and branches
12. Reporting requirements for companies with an MIC Permit or Tax
Incentive (1)
Under Rule 196 of the 2017 Myanmar Investment Rules, an Investor who has been issued a Permit or Tax
Incentive Approval must within 3 months of the end of the financial year submit an ANNUAL REPORT in the
prescribed form to the Commission in the prescribed form which gives details of:
(a) its progress in implementing the Investment;
(b) any material variations to the Investment as implemented from the description presented in the
Application, including, as relevant:
amount of the Investment and any changes in capital invested;
any change in shareholders or parties with an interest in the investor;
employment performance of the Investment;
impact of the Investment on the environment and local community; and
land used in the Investment and changes to land or land uses.
(c) how the Investor and the Investment are supporting the relevant objectives of the Law, as set out in
section 3 of the Law;
(d) the Investor’s compliance with the conditions of the Approval and any instances of noncompliance,
including non-compliance with other applicable laws;
13. Reporting requirements for companies with an MIC Permit or Tax
Incentive (2)
Rule 196 (contd)
(e) the material operating licences, permits and approvals obtained by the Investor since the Approval or
date of the previous annual report; and
(f) in the case of an Investor with a Permit, how it has demonstrated its commitment to carry out the
Investment in a responsible and sustainable manner;
(g) in the case of an Investor with a Tax Incentive Approval:
the estimated value of the Tax Incentives that the Investor has claimed or benefited from in the year
and a breakdown of these by type of incentive;
any recalculation and reimbursement of Tax Incentives required due to the operation of these Rules
or confirmation that no such recalculation and reimbursement is required;
confirmation of the applicable Zone of the Investment if the Investor benefits from an exemption in
accordance with section 75 of the Law;
the export earnings of the Investment.
(h) the audited financial statements of the Investor; and
(i) such other matters as may be prescribed by the Commission
14. Format and disclosure of the annual Rule 196 report to MIC
No prescribed format for the report.
As a minimum, reports should address items in Rule
196 (a) to (h)
According to Rule 199, “a summary of the report
submitted under rule 196 must be published by the
Investor on its website or the Commission’s website
within 3 days from the date of submission. If it is
published on the Investor’s website, the website
address shall be notified to the Commission”.
We recommend that reports submitted for disclosure
under Rules 196/199 are published on the investor’s
website
They can be adapted to be a useful tool for
communicating the company’s activities to Myanmar
stakeholders
Currently DICA has received and posted a few
reports on its website
www.dica.gov.mm/en/announcements-
information
16. Environmental Impact Assessment
2015 EIA Procedure (Art 13) requires the Project Proponent to:
a) arrange for appropriate public consultation through all phases of the Initial Environmental
Examination and EIA process as required by Articles 34, 50, and 61, and
b) disclose to the public in a timely manner all relevant Project-related information in accordance
with this Procedure except that which may relate to National Security concerns as informed by the
Ministry.
Articles 34 (IEE), 50 (Scoping for EIA) and 61(a) (EIA Investigations) all require the project proponent to
hold public consultations and also arrange “timely disclosure of all relevant information about the
proposed Project and its likely Adverse Impacts to the public and civil society through:
local and national media
website(s) of the Project or Project Proponent
public places such as libraries and community halls, and
sign boards at the Project site visible to the public, and
appropriate and timely explanations in press conferences and media interviews”
Arts. 38 (IEE)/65 (EIA) require Project Proponent to disclose IEE/EIA report within 15 days of submitting
it to Environmental Conservation Department, as above
17. Disclosing Beneficial Ownership
Myanmar’s obligations under Extractives Industries
Transparency Initiative (MEITI):
By 2020, all EITI countries have to ensure that
companies that apply for or hold a participating
interest in an oil, gas or mining license or contract in
their country disclose their beneficial owners.
The EITI Standard also requires transparency about
ownership of oil, gas and mining companies and
public officials – also known as Politically Exposed
Persons (PEPs)
Information should be publicly available and published
in EITI Reports and/or public registries. See recent
disclosure of BO and PEP information by DICA
Recent regulatory developments requiring disclosure of beneficial ownership by companies
including those who are ‘Politically Exposed Persons’ (PEPs) are driven by two initiatives
OECD Financial Action Task
Force (FATF) (‘grey-list’)
review of Myanmar;s anti-
money laundering (AML)
compliance
This led to:
DICA’s Directive
17/2019 issued on 15
November but Central Bank
of Myanmar’s Directive
18/2019 of 15 November
18. Financial Action Task Force Grey List
Myanmar placed on the ‘grey list’ as a ‘Jurisdiction under increased
monitoring’ on 21 February 2020
FATF does not call for the application of enhanced due diligence to be
applied to ‘grey-list’ jurisdictions. But it encourages countries/banks etc to
take into account the ‘deficiencies’ in their risk analysis.
FATF notes Myanmar has made a high-level political commitment to resolve
swiftly the identified strategic deficiencies in anti-money laundering
(AML)/Counter-financing of terrorism (CFT) regimes within agreed
timeframes. These were identified in Sept 2018 Mutual Evaluation Report.
Proactive progress already made on MER recommendations to improve
technical compliance and effectiveness, including:
introducing various legislative measures
establishing a regulatory framework for the registration of hundi
operators.
19. FATF’s comments/Myanmar Action Plan
Points to monitor include:
1. demonstrating an improved understanding of money-laundering risks in key
areas
2. ensuring the supervisory body for Designated non-financial businesses and
professions(DNFBPs) is sufficiently resourced, onsite/offsite inspections are
risk-based, and hundi operators are registered and supervised;
3. demonstrating enhancements in the use of financial intelligence in law
enforcement agency investigations, and increasing operational analysis and
disseminations by the Financial Intelligence Unit;
4. ensuring that money-laundering is investigated/prosecuted in line with risks;
5. demonstrating investigation of transnational money-laundering cases with
international cooperation
6. demonstrating an increase in the freezing/seizing and confiscation of criminal
proceeds, instrumentalities, and/or property of equivalent value;
7. managing seized assets to preserve the value of seized goods until
confiscation; and
8. demonstrating implementation of targeted financial sanctions related to
proliferation, including training on proliferation sanctions evasion.
DNFBs
• casinos
• real estate agents
• dealers in precious
metals and
gemstones.
• lawyers, notaries
• other independent
legal professionals
and accountants
• trust and company
service providers
20.
21. Politically Exposed Person definition in MEITI
myanmareiti.org/sites/myanmareiti.org/files/publication_docs/the_myanmar_beneficial_ownership_taskforce_and_the_myanmarupdated_pep.pdf
22.
23. What is the difference between beneficial ownership and legal
ownership?
Beneficial owner refers to the natural person(s) who
ultimately owns or controls a customer (company) and/or
the natural person on whose behalf a transaction is being
conducted. It also includes those persons who exercise
ultimate effective control over a legal person or
arrangement.
Definition from Financial Action Task Force, OECD
Usual international threshold for declaration is 25% control
• 25% in 2015 Myanmar Anti-Money Laundering rules
• 20% in CBM Directive 18/2019
• 5% in MEITI for extractives companies
• 5% in DICA Directive 17/2019 (requires clarification)
24. Six Legal Owners of Air KBZ
Natural Person Shareholding Percent
AUNG KO WIN 1360 17%
NANG KHAM NOUNG 1360 17%
NANG LANG KHAM 1360 17%
AUNG AUNG ZAW 3520 44%
BO BO ZAW 400 2.5%
YAR ZAR PHYO WAI HTUN 400 2.5%
– according to MyCo filings
25. Beneficial Owners
If Air KBZ filed a beneficial ownership (BO) declaration with DICA, based on a 25%
threshold, and treated legal ownership as the same as BO, this would exclude mention of
any member of the KBZ family, as each has a 17% shareholding. Yet the family acting
together has majority control (51%).
Taking into account normal family-owned business arrangements in Myanmar, MCRB
would therefore expect them to identify two Beneficial Owners i.e. those who are ‘exercising
ultimate effective control over a legal person or arrangement’.
Aung Ko Win (KBZ)
Father of Nang Kham Noung and Nang Lang Kham, so total shareholding for family
members, who are presumed to act together giving 51% control
Aung Aung Zaw (24 Hours Company)
44% Legal and Beneficial Ownership or, if also able to exercise control over Bo Bo Zaw
and Yar Zaw Phyo Wai Htun, 49% control
29. … making sure the website is up to date
8%
54%
8%
0%
10%
20%
30%
40%
50%
60%
Annual report Website Website up to date
GAP
Source
2019
30. Main audience
အဓိကသက္ိိုင သူမ ်ား
Why is it relevant?
မညသည့အအတက ္ကစပေသသသည်ား။
Stakeholders
အဓိကအကိ်ားသက
္ိိုငသူမ ်ား
Global standard used by 12,500+ organizations across the globe
Concrete definition for a wide range of KPIs
Database accessible to identify best practices
ကမၻ အစ၀ွမ်ားရွိ အဖတြဲ႕အစည်ား (၁၂၅၀၀)ေက မွအသအို်ားပသည့ ႏုိိုိငငအအက စအႏုိသ်ားဖစ င်ား၊
KPIs မ ်ားအအတက အိကသည့အဓိပပၸါသအမွအ ကမ ်ားရွိ င်ား၊
အေလ့အထေက င်ားမ ်ားအ ်ား အကြဲဖအသအမွအေပ်ားႏုိိုိငသည့ Database အစ ိုဖစ င်ား၊
Investors
ရင်ားႏုိွ်ားမွပႏုိွအသူမ ်ား
Provide a framework that help organizations to comply with law (or its spirit) in South Africa,
Europe, ...
Database accessible to identify best practices
ဥေရ ပ၊ ေအ ငအ ဖရိကရွိ အဖတြဲ႔အအစည်ားမ ်ားအ ်ား ဥပေဒႏုိွင့အညလိိုကသ ေ္ ငရတကႏုိိုိငသည့ မူေဘ ငမ ်ား ေထ ကပအ့ေပ်ားထ ်ား င်ား၊
အေလ့အထေက င်ားမ ်ားအ ်ား အကြဲဖအသအမွအေပ်ားႏုိိုိငသည့ Database အစ ိုဖစ င်ား၊
Regulators
အရ ်ား၀ငၾက်ားၾကပကတပ
ကြဲသည့အဖတြဲ႔အအစည်ား
Identification of the most relevant topics for each sector with some KPIs
Standards and tools available online to access the relevant information freely
က႑အစ ို င်ားစအအတက ္ကစပေ ၸင်ားစဥမ ်ားအ ်ား KPIs ႏုိွင့အအူ သအမွအေပ်ား င်ား၊
သင့ေလ သည့သအင်ားအ ကအလကမ ်ားအ ်ား စစစအကြဲဖအရသအအတက စအႏုိသ်ားမ ်ားႏုိွင့ အိိုင်ားအ ကမ ်ား အ ်ား Online မွ
အ မြဲ့ရရွိႏုိိုိင င်ား
Investors
ရင်ားႏုိွ်ားမွပႏုိွအသူမ ်ား
Identification of the most relevant topics for each sector
Identification of the most performing companies per sector in a document updated each
year: the DJSI Yearbook
က႑အစ ို င်ားစအအတက အသင့ေအ ္အို်ားေ ၸင်ားစဥမ ်ားအ ်ား သအမွအေပ်ား င်ား၊
ႏုိွစစဥထိုအေ၀သည့ DJSI Yearbook တတင က႑အလိိုက လိုပေ္ င ကအေက င်ားမတသ္အို်ား ကိုမပဏမ ်ားအ ်ား သအမွအေပ်ား င်ား၊
Bridging financial and
non-financial reporting
ဘ႑ ေရ်ားအစရင အစ ႏုိွင့ ဘ႑ ေရ်ား
ႏုိွင့မသက္ိိုငသည့ အ ကအလက
အစရင အစ မ ်ားအ ်ား ေပၸင်ားစည်ား င်ား
31. #Focus 1
The GRI
http://database.globalreporting.org/
When using it?
When an international company is applying, you can check if they have disclosed
their non financial / sustainability / CSR report.
ႏုိိုိငငအအက ကိုမပဏအစ ိုမွ ေလွ ကထ ်ားသည့အ ိသအတင ဘ႑ ေရ်ားႏုိွင့မသက္ိုိငသည့ အ ကမ ်ား၊
ေရရွညအညအအ့ ိုိငမြဲေရ်ားႏုိွင့ CSR အစရင အစ မ ်ားအ ်ား ထိုအေဖ င်ားရွိ/မရွိကိို စစေ္်ားလိိုသည့ အ ိသအတင
အသအို်ားပႏုိိုိငပၸသည။
Why using it?
You can then easily research for other reports published by their peers (in the
same sector and/or region, ...) to be able to easily gather all the data /
documents that may help you to review their disclosure.
အူညသည့က႑(သိုိ႕)ေဒသမ ်ားရွိ ကိုမပဏမ ်ားမွ ထိုအပသေၾကင ထ ်ားသည့ အစရင အစ မ ်ားကိို
လတါကူစတ ဖအရ င်ားအ ်ားဖင့ အ ကအလကမ ်ားအ ်ား လတါကူစတ စိုေ္ င်ားႏုိိုိိုငပ်ား ၄င်ားအိို႕႕၏
ပတင့လင်ားမငသ မမ ်ားအ ်ား ေလ့လ ႏုိိုိငပၸသည။
32. #Focus 1: Global Reporting Index (GRI)
Standards
When to
use it?
When you want to check which KPI may be used to disclose the performance on a
specific topic.
သအမွအထ ်ားေသ ေ ၸင်ားစဥမ ်ား႕၏ လိုပေ္ င ကမ ်ားကိို ထိုအေဖ အငပရ အတင
မညသည့ KPI အသအို်ားပထ ်ားသညကိို စစေ္်ားလိိုသည့အ ၸအတင အသအို်ားပႏုိိုိငပၸသည။
Why to
use it?
To get a definition that has been checked / challenged by different stakeholders and to
speak a « common » language with your counterparts.
အမိ်ားမိ်ားေသ အကိ်ားသက္ိိုငသူမ ်ားမွ အသအို်ားပထ ်ားသည့ အဓိပပၸါသအမွအ ကကိို
သိရွိႏုိိုိငပ်ား အ ်ားေသ အကိ်ားသက္ိိုငသူမ ်ားႏုိွင့ အူညိသည့စအႏုိသ်ားမ ်ားအအိိုင်ား
အအူအကတလိုပေ္ ငရသဖစသည။
33. #Focus 2: Integrated Reporting
http://examples.integratedreporting.org/home
When
to use
it?
When an international company is disclosing its
annual report, you can check if its disclosure is
consistent and cover the most important areas.
ႏုိိုိငငအအက ကိုမပဏအစ ို႕၏ ႏုိွစစဥ အစရင အစ
(Annual Report) ကိို ထိုအပသသည့အ ၸ
ကိုမပဏအေသဖင့ အေရ်ားၾက်ားသည့
အ သ်ားက႑မ ်ားအ ်ား ထည့သတင်ား င်ားရွိ/မရွိကိို
စစေ္်ားႏုိိုိငသည။
Why
to use
it?
You can identify easily the best practices. It is
then easier to understand how other
international companies are disclosing their
information.
အေက င်ားမတသ္အို်ားေသ လိုပေ္ င က မ ်ားကိို
လတါကူစတ သအမွအႏုိိုိငမညဖစ ပ်ား အ ်ားေသ
ႏုိိုိငငအအက ကိုမပဏမ ်ား
႕၏သအင်ားအ ကအလကမ ်ား ေဖ ထိုအ
ပသသည့ ပအိုစအကိို ပိိုမိိုသ ်ားလညလ ႏုိိုိငမည
ဖစသည။
34. #Focus 3: Dow Jones Sustainability Index
DJSI
https://yearbook.robecosam.com
When to use it?
To check what are the key trends shaping a sector and to identify who
are the companies seen as the most responsible by a leading investor.
က႑အစ ို င်ားစ႕၏ အဓိကလိုပေ္ င ကမ ်ားႏုိွင့ အ ၀သါူမ၊
အ ၀သ အမအရွိ္အို်ားကိုမပဏမ ်ားအ ်ား သိရွိႏုိိုိငရသအအတက အသအို်ားပ င်ားဖစသည။
Why to use it?
To identify easily the top performer in a sector.
က႑အစ ို င်ားစ႕၏ အေက င်ား္အို်ားလိုပေ္ ငသည့ ကိုမပဏမ ်ားအ ်ား
လတါကူစတ သအမွအႏုိိုိငရသ ဖစသည။