
Carrie Penman, April/May 2016 Issue
With increasing regulatory oversight if ethics and compliance programs, one of the general counsel’s key focus areas is now formalizing compliance-related board relations, including communications, reporting and training. In particular, GC’s need to ensure that their boards receive timely information about areas of risk and concern.
Absent clear policies and processes, GCs are more likely to find themselves caught in a challenging positions between board and other senior executives. While CEOs and their teams generally prefer to manage the information presented to directors, directors themselves are now likely to push for more disclosure, as the feel increasing pressure from regulators.