Many company boards are anxious in the current regulatory environment with stepped-up efforts by the federal government and the risk of lawsuits looming on many fronts.

For instance, Mary Jo White took over the helm at the Securities and Exchange Commission (SEC) last year and announced in an October speech that, “one of our goals is to see that the SEC’s enforcement program is—and is perceived to be—everywhere, pursuing all types of violations of our federal securities laws, big and small.”