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Canadian governance group holds workshop

Opening remarks: Lovitta Foggo, the Minister of Labour, Community Affairs and Sport

Bermuda’s ties with a Canadian governance organisation were strengthened this week with a workshop at Fairmont Southampton hotel.

Governance Professionals of Canada hosted the workshop for their members, as well as Bermudian-based governance and compliance professionals, on Monday and Tuesday. Among the topics covered in the workshop were principles of organisational governance and key trends emerging in the global community of governance.

Lovitta Foggo, the Minister of Labour, Community Affairs and Sport, presented opening remarks, wherein she expressed the Bermuda Government’s support for continuing the partnership with GPC.

Ms Foggo said: “This conference will provide a platform for the development of a constructive partnership for Bermuda with GPC, not only in the private but also the public sector and this will afford Bermuda the opportunity to be at the forefront of emerging trends and new technologies in this space.

“As such, the Government of Bermuda is committed to maintaining a robust compliance regime and governance framework that is closely aligned with best practices and subject to international scrutiny.

“As a leading international financial and business centre, Bermuda attaches great importance to corporate governance. We believe that for companies to be successful, competitive and sustainable in the long term, a high standard of governance is crucial. As compliance professionals and government regulators know, good governance protects the public purse, protects the interests of citizens, raises the standard of not just public governance, but corporate governance, enhances investor confidence and improves international relations.”

Created in 1994, GPC’s mandate is to be the voice of governance professionals in Canada, according to the organisation’s website. Its members deal with all matters affecting corporate governance, from board and committee processes, management and structure, disclosure, stakeholder engagement, legal and corporate compliance, as well as issues crucial to boards, their accountability and oversight.