There is no guarantee that the hire of astute managers will entail running the company for the interests of shareholders. Not even one of the most accomplished firms of auditors Arthur Andersen could save the collapse of the energy giant Enron. Therefore, panacea to the agency problem lies in a good Corporate Governance regime. This is evident by various reforms which were undertaken by countries such as the USA, UK and South Africa to address corporate failures Reads the notes by the CEO in preparation for his presentation at the conference on building investor confidence. Required: To enhance his presentation the CEO has asked you to: a) briefly outline the key requirements of the Corporate Governance reforms in the USA, South Africa and the UK that were instituted following the massive corporate failures; [10 MARKS] b) explain the similarities between the USA Corporate Governance reforms and the Zambian Securities Act 2016; [5 MARKS] c) identify and explain the relevant remedies that the CEO should recommend for an MNC that has recently established a greenfield investment in Zambia but facing serious agency problem