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[DOC] Greater Controls Needed to Curb Corporate Abuse

Author: Rights & Accountability in Development (RAID), Published on: 10 November 2008

...UK civil society groups and the Trades Union Congress (TUC) are calling for tighter regulation of companies and financial institutions in a new report ‘Fit for Purpose? A Review of the UK National Contact Point (NCP) for the OECD Guidelines for Multinational Enterprises 2008’. In 2005, MPs challenged the government to resolve inadequacies of the UK NCP...This resulted in significant reforms to the NCP procedures. However, the findings in this new report indicate considerable problems remain and more needs to be done...The authors of the report go on to argue that promotion of the OECD Guidelines without effective enforcement is a hollow exercise and that stronger controls are needed to ensure sustainable and responsible investment, particularly in volatile or unstable parts of the world.

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