The main goal of the programme is to bring the Colombian corporate governance standards into line with international practices while at the same time respect the Colombian corporate reality. The entire consultancy programme will last approximately 12 months.
The project presented by the Madrid Stock Exchange and Uria&Menéndez comprises four different stages. In the first one, the corporate governance practices of the companies listed on the Colombian Stock Exchange will be assessed. In the second stage, the advisors will submit their recommendations on corporate governance as well as the relevant strategy for their implementation. In the third stage, a pilot scheme whereby the recommendations made on the previous stage will be tested with a number of issuers. In the last stage, a programme for the disclosure of corporate governance measures will be carried out. To this end, the said measures will be made public through a series of lectures in the country and presentations in the Colombian Stock Exchange.
The project, co-ordinated by the International Relations Division of the Madrid Stock Exchange, is part of the international high-level consultancy activities began by the Madrid Stock Exchange, which are earmarked for international co-operation organisations, governments and foreign stock exchanges. The purpose of these projects is to capitalise on the Madrid Stock Exchange's know-how, its expertise and the technology developed by the Exchange over the last years through the provision to other markets of these services.
