CORPORATE governance is the framework of rules, systems and processes that governs the performance of the board of directors as well as the management of their respective duties and responsibilities to the stockholders.
Last year, the Securities and Exchange Commission (SEC) issued Memorandum Circular No. 19 and approved the Code of Corporate Governance for Publicly-Listed Companies (CG Code for PLCs) to promote a strong corporate governance culture.
Relative to this, the SEC recently issued memorandum circular 8-2017 to set forth the following:
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