The Role of the Board and Compliance

Thomas Fox

What is the role of a company’s Board when it comes to Foreign Corrupt Practices Act (FCPA) compliance? The Board should not engage in management but should engage in oversight of a Chief Executive Officer (CEO) and senior management, which they do by asking hard questions, risk assessment and identification. These questions were brought to the fore in an article in the Tuesday edition of the Wall Street Journal (WSJ) entitled, “News Corp. Board Challenged” by reporters Russell Adams and Joann S. Lublin. In this article they discussed the Board of Directors of News Corp and their response to the current scandal engulfing the company. While focusing the independence of the Board from the influence of the Murdochs, the article also discussed whether the structure of the Board will allow it to “properly police the company.”

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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Thomas Fox

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