Serving on a Board After SOX: Opportunities and Perils

Obviously, corporate officers are fiduciaries of assets that don't belong to them. They are -- or should be -- custodians of the stockholders' interests. Still, human nature being what it is, corporate officers need checks and balances in order to remind them that it is not their money they are handling.

In my last article, Sarbanes-Oxley: Avoiding Its Pitfalls, I talked about alleviating the fears of well-meaning management. This article addresses the concerns of sincere board members of publicly held corporations and privately held companies. It provides guidance to enable board members to focus on making a contribution, rather than attempting to avoid civil and criminal liability by running afoul of Sarbanes-Oxley (SOX).

See full Article.