Board secretaries have key role to play in ensuring effective governance
Company board secretaries in Mexico have a key role to play in implementing good governance and privacy policies, attendees at a recent event organised by The Latin American Lawyer in Mexico City, heard.
Participants at the event, hosted by Basham Ringe & Correa, discussed the complexities involved when lawyers act as secretaries of the board. “Sometimes you´re the only lawyer in the room, so all questions about certain legal matters are addressed to you,” said one attendee.
The event – held in partnership with Diligent – also analysed major challenges facing board secretaries, including time pressures when organising meetings, as well as managing and processing information. One participant remarked: “External counsel can add value if they took onboard some of these responsibilities.”
It was also noted that board secretaries in Mexico can play an important role when implementing compliance data protection and privacy policies throughout an organisation. Companies need to understand the legal and regulatory requirement to protect the confidentiality of information they produce for management, as well as protecting the privacy of their clients. “This is a relatively new issue in Mexico and boards are well positioned to help with implementation,” said one attendee.
(This is part of series focusing on good governance in Latin America, future instalments will follow in upcoming issues. Video available online at http://www.thelatinamericanlawyer.com/videos)