Summary
The Corporate Governance Code of 2013 (Recommendations) is an updated set of recommendations issued by the Portuguese Securities Market Commission (CMVM) to promote good 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. The code is based on the principles of the 2010 code but includes some additional recommendations, such as those related to risk management and internal controls. The 2013 code is not mandatory, but companies are encouraged to adopt its recommendations to enhance transparency, accountability, and shareholder value.