ARTICLE
SEC Issues Interpretive Guidance Regarding Climate Change Disclosure February 10, 2010The SEC voted to issue an interpretive release providing guidance for disclosures relating to climate change. While the release imposes no new disclosure obligations, it does serve to remind reporting companies that a number of existing SEC disclosure regulations may require disclosure of certain matters relating to the potential effects of climate change.
INTERVIEW
Sustainability: A Risk—and an Opportunity—Issue January 29, 2010The SEC has announced that it is encouraging companies to disclose climate change-related risks. Ceres’ president believes sustainability isn’t merely about mitigating risk, it’s about increasing opportunity. She discusses Ceres’ work influencing the SEC and its goal for a sustainable economy by 2020.
ARTICLE
A Director's Role in the Oversight of the Compliance Program November 20, 2009In 1996, Delaware's Court of Chancery made waves in the compliance and corporate law communities when it stated that a director's duty of good faith includes a duty to attempt to assure that a corporate information and reporting system exists, and that failure to do so may, under some circumstances, render a director liable for losses caused by the illegal conduct of employees. While the standard articulated in
Caremark was
dicta, it created a keener awareness of the importance of board oversight of a company's compliance program, and had a substantial impact on compliance best practices.