This is the second in a series of articles on PMFIs.

In response to the Global Financial Crisis of 2007-2009, the G20 countries developed a series of public policy initiatives in order to reorder and de-risk the world’s financial system. As initially announced in the 2009 Pittsburgh Declaration by the heads of those 20 governments, a key element focused on solidifying market infrastructures, themselves a central focus of Thomas Murray’s work since the company’s founding in 1994.

Here we present our findings from the 2014 NeMa Africa conference which was hosted in London at the end of November.

A far more careful examination of corporate governance practices has become relevant as a result of recent financial crises and the defaults associated with them. Corporate scandals that have impacted companies all over the world have led to the re-examination of the role of corporate governance in their day-to-day operations. Moreover, expectations of the business world are heightened; society is demanding more responsiveness and certainly more communication to stakeholders as to how enterprises will be successful members of society beyond the next three-month reporting period. Many challenges have to be met as directors oversee senior management. And this is all the more true for infrastructure businesses.

The events in global financial markets in the last four years have highlighted the importance of assuring that systemically important entities are sound and stable.

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