Report on the Brazilian Code of Corporate Governance

The Report on the Brazilian Code of Corporate Governance became a requirement by the Brazilian Securities and Exchange Commission (CVM), in 2018, for publicly traded companies. It is based on the Code of Best Corporate Governance issued by IBGC (Brazilian Corporate Governance Institute), which is guided by the principles of Transparency, Equity, Accountability and Corporate Responsibility.
The Code’s structure uses the Apply or Explain model, which is internationally recognized as the most suitable model for governance codes. This model recognizes that governance practices should not be summarized as a rigid, standard model applied to companies in the same way, but rather it should provide companies with the freedom to adopt practices that are appropriate for their individual realities.
Although it is not required to, the Bank adopts practically all the principles and practices recommended by the Code, except for items which cannot be applied due to BB’s legal identity (mixed-ownership company) or regulations it is subject to. For these situations, all necessary explanations are provided in the Report.

Report about the Brazilian Code of Corporate Governance

Updated 05/20/2019 at 10:40 am