Fnancial and Enterprise Affairs
Oliver Hoßfeld (financial markets, insurance and pension systems, corporate governance)
Tel. +33 (0)1 55 74 57 11
Florian Jäger (investment policies, multinational enterprises, international competition policies)
Tel. +33 (0)1 55 74 57 05
The Directorate for Financial and Enterprise Affairs deals with issues relating to financial markets, insurance and pension systems, international capital movements, international investment and multinational companies, competition as well as corruption in international companies and corporate governance.
The work of the Investment Committee focuses on identifying the positive impact of international investment through political analyses and consultations as well as developing international standards. The OECD Codes of Liberalisation, whose aim is the transparent and non-discriminatory treatment of investors, regardless of their nationality, is of special importance here.
Other key standards are set out in the OECD Guidelines for Multinational Enterprises. These are joint recommendations drawn up by the 35 OECD member states for responsible business conduct in line with applicable law for foreign investment. They are also supported by non-members (including Argentina and Brazil). The Guidelines are voluntary and thus not legally binding.
The Committee on Financial Markets (CMF) is the platform for all OECD work relating to financial markets. Its stated aim is to help establish open, efficient and stable financial systems through greater understanding of financial market issues and active policy guidance. To this end, current and structural developments on the financial markets are monitored and analysed, while reform measures are developed and evaluated. In addition, specialist Working Parties on Public Debt Management and Financial Statistics convene under the auspices of the Committee on Financial Markets.
The OECD work within the scope of the Insurance and Private Pensions Committee (IPPC) as well as its subordinate Working Party on Private Pensions serves to (1) improve understanding of questions relating to insurance and private pensions, (2) improve regulation in these spheres, (3) strengthen private pension systems with a view to dealing better with an ageing population and (4) improve the financial management of major risks. These goals are intended to be met by monitoring the markets, collating statistics, analysing policies and conducting a political dialogue, as well as formulating concrete political recommendations (e.g. in the form of good practices, guidelines and principles).
In the OECD Competition Committee, the different aspects of international competition are analysed and exchanges among national competition authorities strengthened. On the basis of this exchange, the Competition Committee adopts best practices, for example on the exchange of information.
In the sphere of corporate governance, the OECD is the international standard setter thanks to its Principles of Corporate Governance, adopted in 1999 and revised in 2015. For instance, the Financial Stability Board has incorporated the OECD Principles into its list of 12 core standards to promote stable financial systems. They also form the basis of the corporate governance component of the Reports on the Observance of Standards and Codes (ROSC) by the IMF and World Bank. In future, the activities of the Corporate Governance Committee will focus more on the implementation of the adapted principles as well as on monitoring such implementation. The Working Party on State Ownership and Privatisation Practices (WPSOPP), which belongs to the Corporate Governance Committee, addresses the improved governance of state-owned companies and the implementation of privatisation projects. The objective of the OECD Guidelines on Corporate Governance of State‑Owned Enterprises (SOE Guidelines), adopted in 2005 and amended in 2015, is to strengthen disclosure and transparency, thus guaranteeing competitive neutrality between state and private companies.