Responsibility of Directors of Financial Institutions
Forthcoming chapter in CORPORATE GOVERNANCE OF FINANCIAL INSTITUTIONS: LAW, CONDUCT, AND CULTURE (Danny Busch, Guido Ferrarini, & Gerard van Solinge, eds., 2018, Oxford University Press)
27 Pages Posted: 27 Feb 2018
Date Written: February 26, 2018
This chapter examines the governance responsibilities of directors of financial institutions in the United States and worldwide. Part A of the chapter first reviews, as background, the duties generally applicable to directors of firms, including financial institutions. Part B then compares the special responsibilities of directors of financial institutions, including certain responsibilities created in the aftermath of global financial crisis. Finally, Part C enquires more normatively about whether — and if so, how — financial institution governance should be improved to further reduce excessive risk-taking and protect the public against systemic economic harm.
Keywords: corporate governance, financial institutions, financial crisis, risk
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