Regulatory Alerts2011-07-06 | CD-SIBOIF-683-1-JUL6-2011Added · Updated
Norm on Corporate Governance of Issuers of Public Offering Securities
This regulation establishes corporate governance guidelines for private and public issuers of publicly offered securities, excluding regulated financial institutions. It mandates the approval of minimum corporate governance policies, including a code of conduct addressing conflicts of interest, confidentiality, and asset protection. Issuers must maintain internal controls, prepare financial statements using specific accounting standards, and establish an audit committee unless their public offering amounts are under ten million dollars. External audit firms must meet independence and qualification requirements, such as deriving less than 25% of revenue from the issuer and maintaining work papers for five years.
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