Self-regulation duties fall on the board

As U.S. enforcement agencies crack down on crime, boards must take the lead in self-regulation

Harry Truman once famously stated “the buck stops here,” meaning that, as the President, he held ultimate responsibility for certain decisions. While buck passing might be common practice in middle management, when it comes to major issues, such as regulation and compliance, it is essential that those in power, especially the board, take responsibility for making sure everything is done correctly.

As U.S. enforcement agencies continue to get tough with corporate misconduct, companies are expected to police themselves. This provides an opportunity for these companies to discover problems on their own and deal with them, but it also means that, if they mishandle a situation, the consequences could be even larger.

Senior Editor and Community Manager

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Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

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