THE recent revocation of licenses from over 400 lending companies by the Securities and Exchange Commission (SEC) reflects a growing resolve to protect the public from abusive and illegal practices.
THE recent revocation of licenses from over 400 lending companies by the Securities and Exchange Commission reflects a growing resolve to protect the public from abusive and illegal practices. However, it also raises a larger question: How can such incidents be prevented before they happen?One answer lies in strengthening governance structures across all sectors, both private and public.
Many local governments and national agencies operate without fully functioning governance committees or performance monitoring systems. As a result, lapses in accountability persist.This is where lessons from corporate governance can help. In the private sector, independent board committees, particularly corporate governance committees, ensure that leadership remains accountable and aligned with organizational goals.
Time For Marcos To Institutionalize Public Governance
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