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French law, individuals who act as directors and participate within the management of the company’s affairs are handled as such even though they have not been formally appointed. Businesses which have gone public are subject to rules regarding their internal governance, corresponding to how govt officers' compensation is decided, and when and the way information is disclosed to shareholders and to the public. In the United States, these rules are primarily applied and enforced by the United States Securities and Exchange Commission . The laws are implemented and enforced by the China Securities Regulation Commission in China. In Singapore, the regulatory authority is the Monetary Authority of Singapore , and in Hong Kong, it is the Securities and Futures Commission . "Going public" via a course of generally recognized as an initial public providing signifies that a part of the enterprise will be owned by members of the public. This requires the organization as a defin