The Gibraltar Association of Compliance Officers  (GACO) is launching its Corporate Governance Code on the 20th March at 5pm at the Sapphire Bar on the Sunborn Yacht Hotel. 

A statement from GACO continued: “The Oxford University Press Business English Dictionary defines corporate governance as the “way in which directors and managers control a company and make decisions, especially decisions that have an important effect on the shareholders.” It is the system by which organisations are directed and controlled and encompasses the relationship between the board, shareholders, and other stakeholders. 

“Corporate Governance is not only important for the largest companies, rather, all companies should have appropriate systems, policies, and practices in place. Given the pressures on businesses and the competitive global economy, corporate governance is becoming an increasingly important part of corporate strategies. Employing good corporate governance not only lowers the risk of non- compliance with statutory and regulatory obligations, but it also helps a company have a clear strategic direction and prepare for future growth. Sound corporate governance policies and practices can lead to corporate diversity, green credentials, fair supply chains and other outcomes that today’s investors and customers value. As a result, corporate governance can be a significant business differentiator. 

“Corporate governance has earned its place as an essential tool in the management and growth of companies and will continue to grow in importance as customer and regulator demands for transparency increase. Virtually all companies can benefit by taking steps to increase the quality of their corporate governance systems. 

“Recognising the value to our members and the jurisdiction of having sound corporate governance, GACO has created the first fully voluntary Corporate Governance Code for Gibraltar. The aim of the code is not to create additional burden some requirements, but to the contrary, it is intended to support all Gibraltar businesses with an additional tool. For those that have regulatory or legislative obligations, the Code can help to discharge such obligations in an effective manner by adopting and applying some or all of the recommendations for good corporate governance. For others that do not have a specific obligation, it can act as a guide on what they can do to help adapt their business in the future. Irrespective of the size of the business, or the legislative and regulatory requirements, the suggestions included throughout the Code reflect the principles of proportionality and that there is no such “one fits all” solution. 

“The GACO Gibraltar Corporate Governance Code is here to assist all local companies to easier achieve those very ambitious goals in a sensible and proportionate manner. 

“Electronic copies of the Code will be available to all GACO members free of charge on the website, with printed copies available at select GACO run events. 

“We are launching the Code on the 20th March 2025 at 5pm at the Sapphire Bar on the Sunborn Yacht Hotel. The Hon Minister Nigel Feetham KC MP will do the initial speech of this launch and we are inviting the press to attend this launch presentation."