Portugal: new corporate governance recommendations + other developments

The Portuguese Securities Commission (Comissão do Mercado de Valores Mobiliários) has announced that its Executive Board has approved new recommendations on corporate governance with regard to the criteria for determining directors' remuneration, the control of internal risk and the independence of external auditors: see here for further information.

The Commission has also announced - see here - its approval of a Regulation which will require listed companies to publish details of the remuneration policy for directors and supervisory board members.

Finally, the Commission has formed a panel to assess the quality of corporate governance in Portugal: see here for further information.