1. RTS board to transfer some powers to executive board

    Interfax quoted Mr Sergei Shvetsov Central Bank deputy chairman who chairs the MICEX-RTS board said the board of directors of OJSC MICEX-RTS is transferring some of its powers to the stock exchange's executive board. He said that "We made an important decision to gradually begin reforming corporate governance - the executive board is getting more authority for day to day management of the exchange." He said the board of directors will focus on three things: monitoring the quality of governance,

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    1. This is a very sensitive issue, remarking that apparently not all managers and employees will be prepared to work within the new culture.
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