The Montenegro Capital Market Authority held the closing event for the Twinning Light project on strengthening corporate governance provisions and the Authority’s administrative capacity and presented a new Corporate Governance Code aligned with European Union and OECD standards. Delivered in partnership with Croatia’s Financial Services Supervisory Agency (HANFA) with European Union support, the nine-month project included targeted training, practical workshops, a study visit to Croatia and ongoing input from international experts. Capacity-building covered the Authority, the Central Clearing Depository Company, the Montenegro Stock Exchange and joint-stock companies whose voting shares are listed on the regulated market. The new code is positioned as a key deliverable and a condition for the provisional closure of Chapter 6 (Company law) in Montenegro’s EU accession negotiations. The EU delegation indicated that the EU and Montenegro would work in the coming months on closing this negotiation chapter, alongside continued cooperation on aligning Montenegro’s regulatory framework with EU standards.
Montenegro Capital Market Authority 2025-09-19
Montenegro Capital Market Authority concludes EU-backed Twinning Light project and unveils new Corporate Governance Code
The Montenegro Capital Market Authority concluded the Twinning Light project, enhancing governance and capacity, and introduced a Corporate Governance Code aligned with EU and OECD standards. Supported by Croatia’s Financial Services Supervisory Agency and the EU, the project involved training, workshops, and expert input, focusing on capacity-building for financial entities. The new code is crucial for closing Chapter 6 (Company law) in Montenegro’s EU accession talks, with ongoing efforts to align regulatory frameworks.