Dmitry Stepanov, a partner at EPAM has authored the Monitoring Corporate Legislation chapter of the annual National Report on Corporate Governance prepared by The National Council on Corporate Governance.

The Monitoring Corporate Legislation chapter, written by Dmitry Stepanov, reviews the legislative amendments in corporate governance in 2009 and basic trends in the development of corporate legislation.

“The main idea behind the initiatives analysed in this chapter, is an ambition to enhance the corporate law and legislation on securities and to develop effective procedure to ensure that the basic principles described in the legislation are fulfilled. Furthermore, legislators aim to create a balance of interest for all of the parties in the corporate environment, including potential investors and, of course, the government as a shareholder and a regulator. Of course, such amendments per se will hardly ever change the culture of corporate behavior overnight, however, following their enactment many of the acute problems of enforcement will be mitigated or simply vanish” said Dmitry Stepanov.

The National Report on Corporate Governance has been published by The National Council on Corporate Governance since 2008. Similar to previous issues, the monograph reflected on basic trends in the development of practice and legislative regulations in the national corporate governance in 2009, and analysed the most current areas.