39. Corporate governance

(1) A Reporting Entity shall have a corporate governance framework which is adequate to promote prudent and sound management of the Reporting Entity in the long-term interest of the Reporting Entity and its shareholders.
(2) For the purposes of the requirement in Article 39(1), the DFSA shall, by Rules, prescribe:
(a) corporate governance principles and standards that apply to a Reporting Entity, including any requirements applicable to its board of Directors and individual members, controllers, employees or any other person as appropriate;
(b) requirements relating to fair treatment of shareholders; and
(c) provisions to address conflicts of interests.
(3) The DFSA may, by Rules, prescribe any circumstances in which such requirements do not apply to certain Reporting Entities.