This website uses cookies

This website uses cookies to ensure you get the best experience. By using our website, you agree to our Privacy Policy

International In-house Counsel Journal logoInternational In-house Counsel Journal logo

Corporate Governance Liabilities and Obligations of Directors of Commercial Companies

Abstract

The development of securities markets led to an intense debate on the structure and control of companies with their share capital open to public investment, as it has been recognised that a solid commitment to corporate governance is critical to establishing trust and credibility among investors. The lack of corporate governance mechanisms and recent scandals in big companies have shown the weaknesses of institutions and the necessity of setting values, rules, procedures and operational practices, which can be able to ensure the security and participation of shareholders. As a result of those debates we were able to assist to a recent review in the Portuguese Companies Code (PCC) and some recommendations on Corporate Governance of the Portuguese Markets Regulation Body (CMVM). Recently has also been submitted to public appreciation a study for a Corporate Governance Law, which aims to adopt some practices that have been followed up in other markets. Corporate Governance can, therefore, be defined as the set of values, rules, procedures, policies or recommendations that affect the way in which a corporation is directed or administered.

Read Paper

Related Papers

Due Diligence: Knowing Who's Under Your Roof
Invariably in international commercial contracts, there comes a time when all of the boilerplate clauses, the indemnification agreements, and liquidated damages provisions don’t anticipate every bump in the road. At...Read more
Jonathan Nilsen
Senior Corporate Counsel, Spire Corporation, USA
The Italian Corporate Governance Code: New Standards for a Changing Market in Difficult Times
The new edition of Corporate Governance Code of companies listed on Borsa Italiana (the Italian Stock Exchange) was published on December 5th, 2011. The Code was presented by Gabriele Galateri...Read more
Portrait image of Giuseppe Catalano
Giuseppe Catalano
Company Secretary and Head of Corporate Affairs, Assicurazioni Generali, Italy
Prohibition of Parallel Conduct of Board Membership and Employment in the Czech Republic and its Legal Consequences
The Supreme Administrative Court of the Czech Republic opened by its judgment dated 9th December 2010 further questions related to the relationship between a Czech company and its statutory directors...Read more
Portrait image of Richard Bacek
Richard Bacek
General Counsel of Siemens Czech Republic, Romania and Slovakia, Siemens, s.r.o., Czech Republic
The Role of Internal Audit in Corporate Governance. Case: Fiat Group
Recently there has been considerable interest in the Corporate Governance practices of modern corporations. New approaches to doing business have increased the risks connected with the achievement of company's goals....Read more
Mauro Di Gennaro
Chief Audit Executive & Compliance Officer, FIAT SpA, Italy