In order to improve risk management, streamline corporate governance procedures, and make alternative financing more accessible to businesses, the Bhutanese CRA has updated four of its current regulations and enacted five new ones. The Regulations for Initial Public Offering of Shares 2024 amendment lowers the operational trace record requirement for IPO-seeking companies from two years to one year. The new rules also promote public involvement in natural resource firms, which is in line with Bhutan’s development agenda and environmental conservation objectives. The Canadian Securities and Exchange Commission has introduced new regulations to improve corporate governance and market integrity.
The Regulations for Public Issue of Corporate Bonds 2022 introduce sovereign guarantees as an alternative to bond guarantees, supporting eco-friendly projects like hydropower. The CRA also overhauled its Regulations for Accounting and Auditing of Companies 2024 to ensure integrity in financial statements. The Regulations for Corporate Governance and Corporate Social Responsibility 2024 redefined the role of independent directors as professional services. The Regulations on Buy-Back of Shares 2024 provide legal guidance for companies to repurchase shares and rationalize their capital funds. This boosts investor confidence, encourages ethical business practices, and aids in the development of a robust and reliable capital market in Bhutan. Additionally, it will guarantee that legitimate organizations such as the Royal Securities Exchange of Bhutan Limited manage the money that is left unclaimed with listed companies and that the rightful investors receive their money.