Governance Rules

As a professional association that represents a key sector of the Portuguese capital market (and, therefore, the Portuguese economy), APAF considers itself subject, in its internal organization, in the functioning of its activity and in the decision-making processes that it adopts, to a group of principles and rules that constitute its Governance Principles.

The principles of Governance that guide APAF's activity are as follows:

  1. Values: the activity developed by APAF pursues the principles of legality, transparency, independence, compliance, efficiency, and effectiveness in associative management.
  2. Strategy: APAF's Board of Directors takes an active role in the strategic planning of the association's life and actively participates in setting a clear mission for APAF and in defining its growth project.
  3. Areas of responsibility: each member of the APAF Board of Directors has areas of specialty (areas of responsibility) for which he assumes responsibility.
  4. Conflicts of interest: APAF adopts policies and procedures that ensure that conflicts of interest, or the susceptibility of their occurrence between the administrators and the association, are adequately managed, namely the duty of each member of APAF's body to disclose to the body to which they belong. all relevant facts and relationships belong, abstaining from voting on any matter in which a conflict of interest may occur.
  5. Transparency: APAF produces regular information on its activity, in particular drawing up minutes of all meetings of its statutory bodies, as well as appropriate documentation for each project that develops and enforces the principle of greater public disclosure of its activity through such documents, whenever they are not confidential.
  6. Financial Management: clear rules and procedures are defined and established regarding the approval and authorization for expenditure at APAF, in a permanent and transparent relationship with the company responsible for accounting services.