Answer with full explanation

Corporate Governance problems and peculiarities of small developing countries are reflected in a number of characteristics. a) Explain these characteristics; and b) Distinguish between the rules-based and principles-based approaches to corporate governance. (20 marks) Approaches to dealing with ethical problems in finance range from: establishment of ethical codes for staff of financial institutions; fit and proper criteria for industry personnel; introduction of corporate governance rules. Using the Guidelines for Business Conduct for Scotiabank, state how the guidelines define 'conflict of interest' and give five (5) examples of conflicts of interest contained in the guidelines