Where your loyalty lies
In the second of his two articles on the state of corporate governance across the globe, Bob Garratt sets out the challenges ahead for general counsel and explains why confused loyalty to a company could threaten careers
Despite the politicians’ predilection for a ‘tick box’ approach to corporate governance in the US and EU, the UK has so far avoided the dangerous notion that, once you have ticked all the boxes, then you can do anything else. Remember, it is said that a key part of the Enron defence is that it was 100% compliant under the existing US Codes. And unwrapped copies of the Enron code of ethics are now collectors’ items on e-Bay.
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