Australia Assists CMDA to promote Good Corporate Governance

28 September, 2007

Australia is assisting the Capital Markets Development Authority (CMDA) with its efforts to promote principles of good corporate governance and best practice within the securities industry in Fiji.

The Australian government has provided $100,000 to the CMDA to enable it to establish its Corporate Governance Council.

The Council comprises professionals who offer the CMDA guidance and information specific to their constituencies and industry.

Council members monitor developments and make recommendations to the CMDA to ensure an enabling environment which instills confidence and integrity in Fiji’s Securities Industry.

As part of the Australian funding arrangement, the CMDA will also develop a Principles of Good Governance and Best Practice Recommendations for Practitioners.

The recommendations will assist in improving the legal, institutional and regulatory framework which underpins corporate governance within the capital markets and securities industry.

As part of its staff training and capacity building program, the CMDA also works closely with the Australian Securities and Investment Commission (ASIC) which accommodates yearly secondments by CMDA staff to various ASIC directorates.


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