Ukraine Appeals to OECD on Corporate Governance

Ukraine is preparing to officially appeal to the Organisation for Economic Co-operation and Development (OECD) to join its recommendations on corporate governance. The National Securities and Stock Market Commission has approved the corresponding government draft resolution without comments. The OECD principles of corporate governance define approaches to protecting shareholders' rights, the functioning of supervisory boards and executive bodies of companies, information disclosure, transparency, and accountability. These principles serve as an international benchmark for the development of corporate governance and capital markets in OECD and G20 countries. The NSC noted that joining the recommendations should be a continuation of the corporate governance reform in Ukraine. The regulator has previously harmonized its core standards and Corporate Governance Code with the G20/OECD principles. The Commission informed the Cabinet of Ministers about the approval of the draft resolution without comments. After further government procedures, Ukraine will be able to send an official request to the OECD to join the recommendation. Ukraine also plans to join the OECD in 2026, which involves implementing reforms and aligning Ukrainian rules and practices with the organization's standards.

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