Furthermore, leveraging on the CBN Governor’s role as Adviser to the President on Economic Matters to ensure that the financial sector contributes to the real economy, the CBN is taking the lead in measuring more accurately the relationship between the real economy and financial sector, as well as cooperating with state governments to run pilot programmes in directing the financial sector’s contribution to social and economic development within the states.
For large, complex firms, more complex rules are required in order for investors to receive appropriate information. But for smaller firms, less-complex disclosure regulations - and lower costs of compliance - may result in the best cost-benefit balance. The Canadian Securities Administrators recognized this point in putting forward new proposals for guidelines for corporate governance that are based on a firm’s size.