Chief legal officers should be given routine opportunities to communicate with the independent directors of their companies in executive sessions, the American Bar Association’s (ABA’s) Taskforce on Corporate Responsibility has said.
The formal meetings would allow general counsel to report on material violations of the law, breaches of duty to the company and other substantial legal concerns such as litigation and contingent liabilities. General counsel would also be expected to brief directors about what investigations had been made and the steps that have been taken or should be taken to rectify the problem.
