The ISE is to engage in a market wide consultation on the implementation of a revised corporate governance code for Irish listed companies. The consultation, which will commence in the next month, follows the report on Compliance with the Combined Code on Corporate Governance by Irish listed companies (“the Report”), commissioned by the ISE and the IAIM and chaired by Professor Niamh Brennan, released in March and the publication today of the UK Corporate Governance Code (“the Code”). This Code, which updates the Combined Code1, makes an important contribution to the debate on setting appropriate corporate governance standards for Irish listed companies in the future.
Commenting on the new Code, Mike Duignan, Head of Market Supervision at the ISE, said “We welcome the publication today of the Code which aims to increase accountability of Directors as well as improve risk management and leadership in the Boardroom. The ISE’s consultation will consider how best to incorporate the Code into the existing Listing Rules and also explore how this might be expanded to include the recommendations set out in the Report.”