MISSION

The mission of the Center for Business Ethics and Corporate Governance (CBE) is to foster national standards of business conduct in the Russian Federation through innovation and alignment of best practices of ethics, anti-corruption compliance and corporate governance. CBE helps companies apply best practices in a targeted manner that measures improvements in performance and rewards strict compliance. CBE helps Russian government agencies and civil society implement the National Anti-Corruption Action Plan and build the institutional framework of good governance.

RECENT NEWS

On June 8, 2009, CBE Chair Matthew Murray gave a presentation at a conference on “The Russian Business Community in Anticorruption Policy: Perspectives for the Future”. This conference was sponsored by the Center for International Private Enterprise, which is conducting a project to provide small to medium size enterprises in Russia’s regions with legal advocacy skills to defend their rights. Mr. Murray’s presentation focused on how Russian business should develop management strategies to address the risks inherent in a rapidly changing regulatory environment.

UPDATE ON CAPITAL MARKETS PROJECT

In April 2009, the State Duma passed the first reading of a new law "On Counteracting the Abuse of Insider Information and Market Manipulation". In 2006, CBE Chairman Matthew Murray was a member of an international consortium of legal experts that helped the Russian Center for Capital Market Development Foundation draft this new law. The project was performed under a loan from the World Bank to assist in the development of Russian capital markets and to strengthen the institutional capacity of the Federal Financial Market Service. The international experts based their draft of the new law on the European Union's Directive 2003/6/EC. Mr. Murray worked with representatives of the FFMS, Russian Duma, and securities exchanges on the development and review of the draft. The bill that passed its first reading in the Duma would represent the first framework law to define inside trading and market manipulation as securities offenses. In conjunction with draft amendments to the Criminal Code, this new framework would also impose criminal punishment as well as administrative fines.

PAST PERFORMANCE

Since being founded as a Russian non-commercial partnership in 2000, CBE has participated in numerous projects and initiatives designed to institutionalize good governance practices in the market. Certain projects have been sponsored by Russian government agencies, including the Federal Financial Market Service and Ministry of Trade and Economic Development. CBE also works with a variety of donors, including the World Bank, U.S. Agency for International Development, U.S. Department of Commerce, European Bank for Reconstruction and Development, Soros Foundation and Eurasia Foundation. The CBE record demonstrates know-how and experience in designing and implementing legislative-drafting, ethics training, code-writing, risk-mapping, stakeholder analysis and other governance projects. The record also shows that CBE meets reporting and accounting requirements strictly according to donor guidelines and fulfills project objectives on a timely and professional basis. CBE’s “Past Performance References” are available upon request.