Article 116 of the Securities Market Act required listed Spanish companies to specify their “degree of compliance with corporate-governance recommendations, justifying any failure to comply” in their Annual Corporate Governance Report.
Listed companies should therefore use as a reference the recommendations set out in the “Unified Code of Good Governance in Listed Companies” issued by the Comisión Nacional del Mercado de Valores (CNMV).
Section F of the Corporate Governance Report 2008 (PDF 169 Kb)
Last updated: 14 May 2009
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