Press releases | Archive 2006
RBC tops national corporate governance rating for second year running
Moscow, March 23, 2006 - On March 20, 2006, the Russian Institute of Directors and Expert RA rating agency announced the results of the National Corporate Governance Rating. For its operation in 2005, RBC Information Systems (РТС, ММВБ: RBCI) has been assigned a higher, A-class corporate governance rating.
In accordance with the rating's methodology, the consortium's analysts compare the corporate governance practices adopted by every joint-stock company covered by the rating with the rules and regulations specified by Russian law, recommendations of the Russian Corporate Conduct Code and international standards laid down by portfolio investors and organizations representing their interests.
Of the 153 companies that participated in the rating, only 6 companies alongside RBC were assigned the A-class corporate governance rating. The press release of the National Corporate Governance Rating dated March 20, 2006 reads: "the level of corporate governance practices in these companies is assessed as sufficiently high due to their compliance with the corporate governance requirements imposed by Russian law, observance of groundwork recommendations of the Russian Corporate Conduct Code and the inconsiderable risks related to violations of shareholder rights, the lack in managerial bodies' efficiency, and non-transparency".
Since 2004 the National Corporate Governance Rating has become a comprehensible indicator reflecting the general corporate governance level in Russian joint-stock companies.
RBC has been assigned a higher - A-class - rating as a result of its continuous efforts to refine internal corporate governance so as to bring it in line with the commonly accepted international standards.