The Montenegro Capital Market Authority announced the kick-off of a Twinning Light project designed to strengthen the authority’s administrative capacity and deliver a revised Corporate Governance Code aligned with European standards and international best practice. The eight-month project has a budget of EUR 150,000 and is implemented by the Croatian Financial Services Supervisory Agency (HANFA) with support from the Central Finance and Contracting Agency (SAFU), with the Montenegro Capital Market Authority as the beneficiary institution. A core deliverable is the drafting and implementation of a revised Corporate Governance Code that would require regulated market participants to include, in their governance reports, information needed to understand their sustainability-related activities and their impact on company development, business results and market position, drawing on recommendations from the European Securities and Markets Authority (ESMA), the International Organization of Securities Commissions (IOSCO) and the Organisation for Economic Co-operation and Development (OECD). The project started on 15 January 2025 and is scheduled to run for eight months.
Montenegro Capital Market Authority 2025-02-11
Montenegro Capital Market Authority launches Twinning Light project to strengthen supervision and update the Corporate Governance Code
The Montenegro Capital Market Authority has initiated a Twinning Light project to enhance its administrative capacity and update its Corporate Governance Code to align with European standards. The EUR 150,000 project, implemented by the Croatian Financial Services Supervisory Agency, aims to incorporate sustainability-related disclosures in governance reports, guided by recommendations from ESMA, IOSCO, and OECD.