Latin American Societies Construct United Approach to Governance at Seminar in Uruguay

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Held on 15-16 November in Montevideo, CEOs and Chairmen from 17 Latin American societies attended a seminar titled “Tools and Methodology for Corporate Governance and its Implementation on Collective Management”. ABRAMUS, AEI, AGADU, APDAYC, ARGENTORES, ATN, APA, ACAM, ACDAM, DBCA, SACVEN, SADAIC, SAYCE, SCD, SOBODAYCOM, SOOMAP and SPAC participated in the seminar.

The seminar was divided into two parts. The first was led by an international expert on corporate governance Professor Alfredo Enrione of PwC Corporate Governance and Chair for the ESE Business School at the Universidad de Los Andes in Chile. The second portion included a series of eight panels addressing pivotal decision-making aspects for collective management organisations. These panels were also to ensure and reinforce compliance with CISAC’s Professional Rules and Binding Resolutions. The discussions allowed CEOs and Chairmen to share their experiences and discuss potential solutions.

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Panel discussions focused on numerous topics including legal and corporate responsibilities of Boards of Directors and management; budget, asset acquisitions and short-term financial placement decisions; licensing and collections decisions; documentation and distribution; human resources; relations with government organisations, international organisations, guilds and related associations; corporate and cultural benefit decisions; and generation of governing bodies.

The two-day seminar concluded with societies dividing themselves into three working groups to make recommendations for promoting best practices as well as to ensure that decision-making is based on democratic, transparent and auditable procedures. The resulting recommendations will be distributed to Latin American societies with the goal of receiving feedback from each society, to be presented later to CISAC Director General Gadi Oron.

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