CAF presents these Guidelines for a Latin American Code of Corporate Governance, as an update of a document published in 2004. Its purpose is to present a set of basic norms that help build the foundations of good corporate 6 governance to companies of the region, operators of capital markets and those responsible for public policies. This document is exhaustive and applicable to a very diverse spectrum of companies; it has a dynamic character and may be enriched by suggestions and recommendations that could arise when it is put into practice. Through this publication, CAF expects to continue providing solid support to companies in creating a true culture of good corporate governance. While this task is a long-term one, the adoption of these guidelines may turn into a significant contribution to the development of the region´s capital markets and help to optimize the relations between companies and other suppliers of financial resources.