You will note that the CBB’s emphasis has been on the internal governance, market conduct and transparency of listed companies and licensees. Let me deal with these three points in turn. The CBB’s internal governance requirements have concentrated first and foremost on the role of the Board, and secondly on sound internal controls and risk management systems.
The Board sets the tone at the top and its functions include effectively monitoring the management and performance of licensees, and to establish the objectives of, and to develop the strategy of the licensee.