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)

Duke Law School Public Law & Legal Theory Series No. 2018-23

27 Pages Posted: 27 Feb 2018

See all articles by Steven L. Schwarcz

Steven L. Schwarcz

Duke University School of Law

Aleaha Jones

Duke University School of Law

Jiazhen Yan

Duke University, School of Law, Students

Date Written: February 26, 2018

Abstract

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

Suggested Citation

Schwarcz, Steven L. and Jones, Aleaha and Yan, Jiazhen, Responsibility of Directors of Financial Institutions (February 26, 2018). Forthcoming chapter in CORPORATE GOVERNANCE OF FINANCIAL INSTITUTIONS: LAW, CONDUCT, AND CULTURE (Danny Busch, Guido Ferrarini, & Gerard van Solinge, eds., 2018, Oxford University Press); Duke Law School Public Law & Legal Theory Series No. 2018-23. Available at SSRN: https://ssrn.com/abstract=3130115

Steven L. Schwarcz (Contact Author)

Duke University School of Law ( email )

210 Science Drive
Box 90362
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)

Aleaha Jones

Duke University School of Law ( email )

210 Science Drive
Box 90362
Durham, NC 27708
United States

Jiazhen Yan

Duke University, School of Law, Students ( email )

Durham, NC
United States

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