The purpose of the Código País is to strengthen the Colombian capital market by drafting a single code of best corporate practices, aimed at narrowing the gap between securities issuers and investors. This is achieved through the adoption and implementation of the recommended practices by issuers, thereby granting investors greater transparency and timeliness in the management of their resources, as well as the ability to assess and compare the corporate and administrative conduct of different issuers on a comparable basis.
Although the recommendations are voluntary for securities issuers, they must disclose such information by filling and submitting the annual corporate best practices survey to the Colombian Superintendency of Finance (Superintendencia Financiera de Colombia). The survey’s purpose is to provide general disclosure about each issuer’s corporate practices and the degree of adoption of the Código País recommendations.
Pursuant to Circular 028 of 2014 of the Colombian Superintendency of Finance, a new Code of Corporate Practices was adopted, under which the survey shall be completed.
Below you will find Banco Comercial AV Villas S.A.’s most recent Código País surveys.
