Consultation: Application Paper on Proactive Supervision of Corporate Governance

Public Consultation

Comment due by 17 December 2018 at 24:00 Basel time (Central European Time).

Thank you for your interest in the Application Paper on proactive Supervision of Corporate Governance.

The outcome of the IAIS Self-Assessment and Peer Review (SAPR) conducted in 2014 underlined the need for additional guidance on supervisory practices related to corporate governance that are proactive and sufficiently robust. Some of the issues identified in the SAPR were addressed by revisions to ICP 7 (Corporate Governance) and ICP 8 (Risk Management and Internal Controls), finalised in November 2015. The IAIS also noted that some challenges related to proactive supervision of corporate governance should be addressed by providing supervisors with good practices and tools.

The draft Application Paper on Proactive Supervision of Corporate Governance sets out good practices related to the organisation and functioning of the supervisor, with the objective of promoting proactive supervision of corporate governance.

The IAIS is now seeking feedback on this draft Application Paper through public consultation. Feedback on this consultative document is invited by 17 December 2018 at 24:00 Basel time (Central European Time). Feedback received by this deadline will enable the IAIS to further develop the paper for finalisation. After this deadline, the Consultation Tool will be closed and it will no longer be possible to submit any further comments.

In addition, a public background call will be held via teleconference on 15 November 2018 to discuss the draft Application Paper and receive public feedback. Click here for details.

How to provide comments

Please use the Consultation Tool available at the consultation page of the public section (accessed below) to provide your comments. Instructions for use are available when you access the Tool. Please note that only comments submitted through the Tool will be considered. All comments will be published on the IAIS website unless an option in the Tool to keep comments confidential is chosen.

Please note that some formatting (e.g. bullet points) may not be preserved when copying and pasting your comments into the Consultation Tool from other software such as Microsoft Word.