Corporate governance and ethics: Corporate governance/part 3

Introduction
Definition and rationale

• Disclosure is ensuring access to information by all interested parties, regardless of the purpose of obtaining the information, through a transparent procedure that guarantees information is easily found and obtained.

Principles of disclosure

Best practices: Good disclosure should be.

• Provide on a regular and timely basis.
• Easily and broadly available.
• Correct and complete.
• Consistent, relevant, and documented.

Confidential information

• In reality, competitive harm only arises under a limited number of circumstances.
• In Russia, information is deemed commercially sensitive if:
  – It has real or potential commercial value due to its uncertainty to third parties.
  – There is no free access to it on legal grounds; and.
  – The owner of the information undertakes steps to keep it confidential.