Current project
Russian Capital Markets Development Project

Under this project, CBE Chairman Matthew Murray was selected as a member of an international consortium of legal experts to help the Center for Capital Market Development Foundation draft a new law for Russia prohibiting inside trading and market manipulation. 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 (“FFMS”). 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.

For more information on this legal initiative, please click the following link: http://www.fcsm.ru/eng/catalog.asp?ob_no=9147

Services and Projects

The Center performs the following services:
Conducts seminars, workshops and trainings in the field of business ethics and corporate governance;
Develops and disseminates toolkits that help company management adopt best practices of business ethics and anti-corruption;
Assists in the development of codes of conduct;
Provides research and analysis on company social responsibility and corporate governance performance;
Conducts surveys and research on local business practices; and
Legislation drafting, research and analysis and seminars for government officials on developing codes of ethics.

Projects of the Center

"Declaration of integrity in business conduct in St.Petersburg"
In September 1998, the St. Petersburg business community created the Declaration of Integrity in Business Conduct, a voluntary statement of commitment to international business principles and practices. By adopting the Declaration, a company promises to repudiate corruption and to implement a code of business ethics as part of its policy of corporate governance. For companies that do not have a corporate code, Sovereign Ventures, Inc. developed a Model Code of Business Conduct incorporating the best corporate governance practices of leading international companies. Both the Declaration of Integrity and the Model Code of Business Conduct were funded by a grant from the United States Agency for International Development through the Eurasia Foundation.
1998 -1999

"Integrity Pact" in Construction Sector of Saint Petersburg
CBE is helping form an Integrity Pact in the Saint Petersburg construction sector that includes businesses, the local government and NGOs. The goal is to create the conditions for transparent tenders and procurement reform and attract further investment to St. Petersburg. The project has been endorsed by the St. Petersburg government and has led to creation of the Honest Builders’ Club, which consists of the CEO’s of the most reputable construction companies in the region. The project has received support from the Open Society Institute (Soros Foundation).
2001

Corporate Governance Code for the Russian Federation
On April 4, 2002, the Russian Federal Commission for the Securities Market and the European Bank for Reconstruction and Development issued the Russian Corporate Governance Code, a voluntary guide to international best practices for use by Russian private companies. A consortium of international experts, including the Center, helped write the Code, which provides recommendations regarding the rights of shareholders, the responsibilities of boards of directors and individual directors, the role of management, financial and disclosure obligations, dividend policies, and the position of corporate secretary.
2002

Business Ethics Manual for Russia, Independent States and Eastern Europe
The Center helped the US Department of Commerce research, write and translate this manual, which is designed to help private sector, NGO and government leaders in Russia, the Independent States and Eastern Europe adopt ethics strategies and programs. (Russian Edition to be Published December 2004.)
2003-2004

"Training Needs Assessment for Business Ethics and Corporate Governance improvement"
Since 2003 the Center had been implementing the project “Training Needs Assessment for Business Ethics and Corporate Governance improvement” with the financial aid of the Eurasia foundation.
2003-2004

"Accountability for Improving Corporate Governance"
The Center’s Accountability Project seeks to address significant obstacles to corporate governance reform in the Russian Federation. The Accountability Project aims beyond the standard approach to reform that focuses primarily on shareholder rights, to helping Russian companies and civil society stakeholders create an infrastructure to increase corporate social responsibility. This linkage helps companies develop a sustainable competitive advantage and address the interests of key stakeholders, including the communities in which they operate, in a more comprehensive way.
2003-2005

Toolkits, developed by Center

Readyness model
This model provides a pictorial view of the factors, which should be considered while evaluating the company’s readiness of the best corporate governance standards implementation. (in Russian only)

Self-Assessment Matrix (SAM)
How developed is your company’s corporate governance system? The answer to this question is of great interest to your stakeholders: investors, shareholders, managers, and market regulators. It is our pleasure, then, to provide a tool – the Self-Assessment Matrix – designed to facilitate a thorough analysis of your company’s corporate governance system.