Second Meeting of the Financial Sector Regional Forum

Corporate Governance

November 14, 2003

Welcome and opening

Antonio Vives, Deputy Manager, Private Enterprise and Financial Markets Subdepartment, Inter-American Development Bank

Session I: Presentation of the Regional Roundtable White Paper on Corporate Governance in Latin America

Mats Isaksson, Head, Corporate Affairs Division, OECD

Mike Lubrano, Principal Financial Specialist, Corporate Governance and AML Global Financial Markets Department, International Finance Corporation, (IFC)

Discussion

Moderator: José Carlos Rocha Miranda, Undersecretary for Economic Policies, Ministério do Planejamento, orçamento e gestão, Brazil

Session II: Non Latin America Experiences

Public Policy Process of Reforms

Patrick von Bargen, Executive Manager, US Securities and Exchange Commission

The Spain Case in the European Context

Juan Munguira, Attorney of the Comisión Nacional del Mercado de Valores, Spain

Discussion

Moderator: Mauricio Rosillo, General Director, Dirección General de Regulación Financiera, Ministerio de Hacienda y Crédito Público, Colombia

Session III: Cases in Latin America and the Politics in the Implementations of the Corporate Governance

The Mexico Case

Jorge Familiar, Vice-president, Comisión Nacional Bancaria y de Valores, Mexico (presentation in Spanish)

The Peru Case

Víctor Loayza, Former Chief Executive Officer, Comisión Nacional Supervisora de Empresas y Valores, (CONASEV), Peru
(presentation in Spanish)

Discussion

Moderator: Heinz Rudolph, Coordinator of International Finance and Capital Markets, Ministerio de Hacienda, Chile

Lunch

Dennis E. Flannery, Executive Vice-President, IDB

Carlos M. Jarque, Manager, Sustainable Development Department, IDB

International investors perspectives

Speaker: Ted White, Director for Corporate Governance
CalPERS

Session IV: ?Politics? in the Implementation of the Corporate Governance

The Chile Case

Álvaro Clarke, Former Superintendent, Superintendencia de Valores y Seguros, Chile

The Colombia Case

Clemente del Valle, Superintendent, Superintendencia de Valores

Discussion

Moderator: Carlos Eyzaguirre, President, Comisión Nacional de Valores, Peru

Session V: The Implentation of Corporate Governance in the Region

International Perspective

Emilio Martín Ferré, Director, Comisión Nacional de Valores, Argentina (presentation)

Enforcement ? Principal Issues and Stylized Facts

José Luiz Osorio, Former President, Comissão Nacional de Valores, Brazil

Discussion

Moderator: Dieter Linneberg, Advisor, Superintendencia de Valores y Seguros, Chile

Recommendations, Conclusions and Next Steps

Pietro Masci, Chief, Infrastructure and Financial Markets Division, Sustainable Development Department, IDB

Ernesto Revilla Soriano, Dirección General de Seguros y Valores,  Secretaría de Hacienda y Crédito Público, Mexico