IBGC launches new Guideline Letter and strengthens its position about the Governance in companies controlled by the Union, States, Federal District or Municipalities

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Failures in the Governance of State-Owned Companies impact several sectors of the Brazilian economy and demand the full and definite adoption of professional managements and good governance practices. So that these organizations reach their objectives, it’s essential that their internal control mechanisms work on an adequate, prompt and effective basis and that their Boards of Directors seek to ensure such effectiveness.
Attentive to that, the IBGC – Brazilian Institute of Corporate Governance – introduces, in the fifth edition of the Guideline Letter, the legal and regulatory context of these organizations, the responsibilities of controlling shareholders and the fiduciary duties of their managers.
The document is part of a series of publications about state-owned companies that started with the Opinion Letter and that will have a new section to be launched in the second half of the year.
Read the full fifth edition of the Guideline Letter and learn about IBGC’s recommendations.