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The long-awaited law on the corporate governance of SOEs comes into effect. “This is a critical step to ensure that state-owned enterprises operate in line with OECD principles, reducing opportunities for corruption and ensuring accountability of CEOs by supervisory boards selected according to international standards,” G7 ambassadors responded.
Lawmakers of the ruling United Russia political party submitted a draft law to the Russian State Duma on March 11 declaring Russia's 1954 return of Crimea to the Ukrainian Soviet Republic "illegal."
Competition law reform in Albania is underway, marked by several important changes to Law no. 9121, dated 28.07.2003, “On Protection of Competition” (“Competition Law”). Within the context of harmonizing with the EU acquis, last November, the Albanian Competition Authority (“ACA”) launched a public consultation phase for the proposed amendments to the Competition Law (“Draft Law”). However, the final version of the Draft Law has not yet been submitted to Parliament.
The Verkhovna Rada adopts the long-awaited law on the corporate governance of SOEs. Establishing the exclusive power of the SOE’s supervisory board to appoint and dismiss the CEO, even in SOEs owned or overseen by the Cabinet of Ministers (such as Naftogaz and Ukrzaliznytsia), and to approve the SOE’s strategic and financial plans.
Despite pressure from the Presidential Office the Verkhovna Rada rejected the Cabinet of Minister's draft law on restarting the Bureau of Economic Security (BES). On Feb. 23, the Verkhovna Rada of Ukraine rejected the Cabinet of Ministers’ draft law #10439 on the fake restart of the BES. Despite huge pressure from the Office of the President and persuasion from the Justice and Economy ministries, the law only got 222 out of the 226 votes needed for it to pass.