Peru invited to OECD Corporate Governance Committee

This important group is in charge of coordinating and guiding the OECD's work on corporate governance and related corporate affairs issues, including state-owned assets, market integrity, company law, insolvency, and privatization.

The participation of Peru —as a guest— arises from the collaboration between the Economy and Finance Ministry (MEF) and Superintendence of Securities Market (SMV) after the nation adopted a series of international principles concerning corporate governance. 

This way, an application expressing the Inca country's interest in joining the committee was sent to OECD in February this year.

Participating in this committee will enable Peru to collect experiences and standards of the group in order to incorporate them in the Peruvian supervision and regulation, in favor of investors and the market in general. 

In the last few years, the SMV —in coordination with MEF— has maintained an active participation at the OECD-Latin American Roundtable on Corporate Governance, which serves as a precedent of the Inca country's involvement in the committee. 

Currently, Peruvian securities market regulation does not provide a mandatory regime for adopting Corporative Governance Principles. 

However, issuers with securities registered in the SMV's Securities Market Public Register are required to disclose —in their Annual Report— their compliance with "The Principles of Good Corporate Governance for Peruvian Corporations" under the internationally recognized "comply or explain" principle. 

The objective is to disclose —to the market— the degree of adherence to said principles. 

(END) CNA/DTK/RMB