Indian govt mulls governance code

Alex Kayle
By Alex Kayle, Senior portals journalist
Johannesburg, 25 Nov 2009

Indian govt mulls governance code

The Ministry of Corporate Affairs in India is set to roll out a governance code for unlisted companies to encourage more companies to register on the stock exchange, reports The Economic Times.

According to senior officials, the proposed Companies Bill, 2009, may see unlisted entities being asked to follow specific norms of governance, similar to listed companies.

This is to bring listed and unlisted companies on par in terms of regulatory requirements.

Novell, Logica partner

IT services provider Novell has partnered with Logica Management Consulting to bring a governance, risk, and compliance (GRC) solution with SAP to the market, says CIOL.

Markus Krauss, vice-president of identity and security management, Novell Europe, Middle East and Africa, says: "This offering includes integrated governance, risk and compliance solutions to help bridge the gap between business processes and IT security and controls."

The partnership, revealed at the SAP GRC 2009 conference, enables Logica to provide an enterprise-wide risk management approach.

UK bill cracks down on bankers

UK bankers will see excessive pay and bonuses contracts torn up if they promote undue risk-taking under tough new rules outlined in the proposed Financial Services Bill, states The UK Press Association

The Financial Services Authority will be handed new powers to void banker contracts and fine those that continue to offer unjustifiable sums.

The UK Treasury says the purpose of the bill was to ensure the financial system that emerges from the crisis is one not only rebuilt on a stronger and sounder footing, but is also one that is fairer and works better for consumers.