New Guidelines for Board Oversight of Ethics and Compliance

With increasing regulatory oversight of ethics and compliance programs, boards need to receive timely information about areas of risk and concern. The responsibility of  formalizing relations with the board, including communications, reporting and training, is largely falling on the general counsel. At the same time, CEOs and other executives sometimes often prefer to manage information presented to the board themselves. The result is that GCs can find themselves in a challenging and sometimes tense position. In a Today’s General Counsel article, Carrie Penman, chief compliance officer at NAVEX Global, has six recommendations for addressing this issue, and making sure that boards are able to meet their oversight obligations.