Prudent Discharge of Compliance Obligations by a Board

In a webinar entitled “Reporting to the Board on Your Compliance Program: New Guidance and Good Practices,” Rebecca Walker and Jeffrey Kaplan explored the obligations of a board member regarding the Foreign Corrupt Practices Act, and whether the obligations of the Compliance Committee under the FCPA are at odds with a director’s “prudent discharge of duties to shareholders.” From the case of In re Walt Disney Company Derivative Litigation, Walker drew the principle that directors should follow the best practices in the area of ethics and compliance.