The Trinidad and Tobago Corporate Governance Code
Effective Corporate Governance is the cornerstone for the success of every public and private entity. Corporate governance is currently top of mind internationally and, more specifically, in Trinidad and Tobago given the negative economic and social impacts on the society. Recent cases – such as the Stanford Investment Group, and the collapse of CL Financial and the Hindu Credit Union – all bear out the need for effective Corporate Governance.
To address this national issue, the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC), Trinidad and Tobago Stock Exchange (TTSE) and the recently formed Caribbean Corporate Governance Institute (CCGI)
have therefore come together to lead a project whose task it is to develop the Trinidad and Tobago Corporate Governance Code (TTCGC)
Many countries around the world have National Corporate Governance Codes. In the Caribbean Jamaica was the first, and so far only, country to introduce such a code in 2006. That Project was lead by the Private Sector Organization of Jamaica and the Jamaican Stock Exchange has been a close partner. The TTCIC, TTSE and the CCGI believe that this Corporate Governance Code initiative will ultimately lead to better management of the national patrimony and a stronger civil society.
The project, led by a Steering Committee chaired by the CEO of the TTCIC, commenced on May 28th 2012 and is expected to close with the launch and publishing of the Code in 2013. The members of the Steering Committee are as follows: