Recommendations by the the Portuguese Securities Market Commission (CMVM) on Corporate Governance have evolved since the 1990s with a 1999 version that recommended public disclosure of compliance with the recommendations. CMVM Regulation 07/2001 obliged companies issuing shares which were admitted to trading on a regulated market to disclose annual information on various aspects linked with corporate governance. Of particular importance is information related to the level and means of compliance with the present recommendations, or to non-compliance and the reasons thereof. In 2003 a further update was published, so as to make the annual report on corporate governance more complete. In 2005, the dominant tone of the amendments introduced was related to the improvement of the internal control systems of companies. Today the regulation (1/2010) promotes greater transparency in the areas of remuneration, irregularities disclosure policy and qualifications of directors. It expects greater disclosure in an Annual Corporate Governance Report.
Industry sectors covered by the instrument
Organizations covered by the instrument
All reporting entities
Type of instrument
Mandatory or voluntary
The geographical scope