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Mission Statement of the NCGC

National Committee on Corporate Governance (the Committee or NCGC) was established for the promotion of best practices in corporate governance and the development of the Bulgarian National Corporate Governance Code (Code or BNKKU).

The Committee is a permanent independent body set up under the aegis of the Bulgarian Stock Exchange-Sofia (BSE) and the Financial Supervision Commission (FSC), with support from the World Bank and the International Finance Corporation (IFC).

The Committee was established on September 3, 2009 on the principle of public-private partnership for consultations and cooperation at a national level on matters of corporate governance.

The mission of the Committee is to promote the establishment of best practices in corporate governance, thus helping companies to raise capital and improve their market performance.

NCGC is the successor of the Working Group on Corporate Governance - author of the Bulgarian National Corporate Governance Code.

The main activities of the Committee, set out in the Rules for the structure and activity of the NCGC, include:

  • Encourage the implementation of best practices in corporate governance;
  • Monitor the implementation of the Bulgarian National Corporate Governance Code;
  • Reviewed the Code every 18 months or initiate changes where necessary;
  • Develop mechanisms to monitor the implementation of the Code;
  • Follow and comply trends of corporate governance at the national and international level;
  • Prepare recommendations to regulators to improve corporate governance;
  • Development and presentation of guidelines for best practice in specific areas of corporate governance;
  • Prepare and publish annual assessment of the state of corporate governance in the country;
  • Cooperatie with similar institutions in other countries and their associations, and international organizations.

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