Spring 2016

Date - Time:
04/07/2016 - 17:30
Mizuho Securities
320 Park Avenue at 51st St.
12th Floor
New York, NY 10022
Gavin Hayman, Open Contracting Initiative | Robert Hunja, World Bank | Maria Margarita Zuleta, Government of Colombia | Michael McDermott, AIG Asset Management Group
Government contracting of projects and services, which represents trillions of dollars of expenditure and about 15% of the global GDP, is often prone to inefficiency and corruption. Dishonesty and mismanagement can result in the downfall of projects and of companies that receive contracts, as recent developments in Brazil have shown. Recent innovations in open contracting policies and practices have aimed to combat these issues by implementing new standards of fairness and transparency...

Fall 2015

Date - Time:
12/09/2015 - 17:30 to 20:00
Societe Generale
245 Park Avenue at 46th Street
New York, NY
Edgardo Sternberg, Loomis Sayles | Michael Brodsky, Deloitte Advisory | Stephen Davis, Harvard Law School Program on Corporate Governance | Ric Marshall, MSCI ESG Research
After ending 2014 with major corporate scandals in China (GlaxoSmithKline), Brazil (Petrobras) and Portugal (Banco Espírito Santo), some investors thought we were back to business as usual in 2015. Instead, Brazil’s Operação Lava Jato (Operation Car Wash) corruption probe mushroomed to an even broader investigation that has entwined senior management at some of the country’s largest corporations and dragged a number of bonds and stocks to distressed levels. These recent scandals are happening...

Spring 2015

Date - Time:
05/11/2015 - 17:30
Bloomberg LP
731 Lexington Avenue
New York, NY
H.E. Luis Miguel Castilla, Ambassador of Peru to the United States | Ian Gary, Oxfam America | Michael Jarvis, World Bank | Reg Manhas, Kosmos Energy | Bryan Luther Carter, BNP Paribas Asset Mgmt
In the EU, US, Canada, and Norway, new laws requiring stricter mandatory disclosures about financial flows between natural resource companies and governments could reduce the risk of Petrobras style scandals. In the UK, for example, all LSE listed oil, gas, and mining companies must as of 2016 disclose tax, royalty, and other payments on a country-by-country and project-by-project basis. In the US, Dodd-Frank (Section 1504) requires similar disclosures but has yet to be implemented....

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Governance in the News


SOEs often manage huge budgets and control valuable national assets. When accountability is lacking, they tend to deliver a poor financial return on these investments. Analyzing SOE performance is complicated by the multiple missions that SOEs often pursue, which is why there can be no one-size-fits all approach. But a good starting point is assessing whether the SOE has achieved the goals laid out by the government and the company’s own leadership.


An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue.


By year-end, Indonesia is also set to join the Automatic Exchange of Information initiative, a global effort to curb tax avoidance and evasion, which enables tax authorities around the world to exchange information on taxpayers’ accounts.


The OBS 2017 results suggest that whatever factors contributed to improvements in transparency in the region between 2012 and 2015 were insufficient in maintaining these gains in 2017. Countries in Sub-Saharan Africa that increased their OBI score by more than five points between 2012 and 2015 declined by more on average between 2015 and 2017 than the countries that were not substantial improvers between 2012 and 2015.

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