Montenegro Capital Market Authority unveils EU and OECD-aligned Corporate Governance Code through Twinning Light project

The Montenegro Capital Market Authority held a training session for joint-stock companies and presented a new Corporate Governance Code developed under the Twinning Light project delivered in partnership with the Croatian Financial Services Supervisory Agency. The initiative is positioned as a capacity-building programme for the authority and for companies whose voting shares are listed on a regulated market. The code is described as fully aligned with European Union and OECD standards and intended to provide a framework for transparent and accountable management, stronger integrity and professionalism in governance structures, and increased investor confidence in Montenegro’s capital market. Project activities included targeted training and practical workshops, a study visit to Croatia, and ongoing support from international experts, with participation from key stakeholders including the Central Clearing Depository Company, the Montenegro Stock Exchange, issuers and other institutions; the training emphasised practical application of the code and tools to improve governance and transparency. The authority indicated that the project outcomes will serve as a basis for further improvements and continued promotion of good practices and professional standards in the market.