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I thought it might be illuminating to others if I wrote down why I founded BDTI, why it is a nonprofit organization, and why I donated a large portion of my wealth to it.
Just for fun, here are some simple questions. I betmore than halfof the directors on Japanese public company boards cannot answer all 10questions correctly.
If you sit on the board of a private company in Japan, and you don't know the answers, you too may need to worry about what else you don't know.
1) How is the duty of due care interpreted in Japanese courts?What is the business judgment rule and how is it interpreted?
” Achieving compliance with the Foreign Corrupt Practices Act (FCPA) and similar anti-corruption legislative requirements has become an increasing concern for companies that operate globally. The number of FCPA-related enforcement actions and the size of penalties have increased dramatically over the last several years, affecting companies from all around the world.
MSCI, the parent company of ISS, recently announced that Gary Retelny, a member of MSCI’s Executive Committee and its Corporate Secretary, has been appointed President of ISS. As ISS is clearly an influential force in corporate governance developments, we asked Mr. Retelny about his new position.
Davis Polk: What are your primary goals and expectations for ISS as we approach the 2012 proxy season?
The following postin the Harvard Forum on CorporateGovernance and FinancialRegulation,is from Heidi Welsh, Executive Director at the Sustainable Investments Institute (Si2), with input from Tim Smith, Senior Vice President at Walden Asset Management, and was adapted from the executive summary of a longer report on the results of the 2011 proxy season published by Si2. […]
(From Deloitte – download the full whitepaper below)- Reputation risk management is an even greater challenge today than a decade ago due to the increasingly global, interconnected, and interdependent nature of today’s marketplace, including exposure to a wide range of stakeholder opinions through social media.
BDTI's seminar on amendment of the Company Law last Friday was a big success, with a full turnout and many incisive comments and explanations from our panelists. We would like to thank everyone who attended.
There were differences of opinion betweenthe panelistswith regard to the question of: what should be the main focus of the amendment process,in order to improve corporate governance in Japan? (I.e., what are we trying to fix? )
Vonya Global released its second survey of global executives and internal auditors atprivate, public and non-profitorganizations, concerning their concerns about fraud risks, whether they are increasing or not, how to best deal with them, and other matters. Perhaps the most interesting result is that there is general agreement that roughly 5% of all global revenue is lost because of fraud.
Fascinating research paper with the above title. Few surprises here, but fascinating. Abstract: