Summary
The Corporate Governance Code of 2010 (Recommendations) is a set of recommendations issued by the Portuguese Securities Market Commission (CMVM) to improve corporate governance practices among companies listed on the Portuguese stock exchange. The recommendations cover topics such as board composition and functioning, remuneration, shareholder rights, and transparency. Unlike the 2007 code, the 2010 version is not prescriptive and companies are not required to comply with the recommendations. However, companies are encouraged to adopt the best practices outlined in the code to enhance transparency, accountability, and shareholder value, and to promote investor confidence in the Portuguese market.