40 See Constâncio, V. (2016), Margins and haircuts as a macroprudential tool, remarks at the ESRB international  conference on the macroprudential use of margins and haircuts, 6 June 2016; see also Constâncio, V. 10 / 11  BIS central bankers' speeches  (2017), Macroprudential policy in a changing financial system, remarks at the second ECB Macroprudential Policy and Research Conference, 11 May 2017.
It was especially emphasized that stakeholders should be involved in the insolvency process. Fourth, the stakeholders should have access to necessary information on managing the company. The OECD again revised the five principles in 2004. In this revision, the protection of stakeholders and whistle blowers is emphasized. It, to a larger extent, stresses the rights of employees and creditors. There are three main aspects.