What Departing Directors Need to Know

Wilson, Steve
January 2009
Risk Management (00355593);Jan/Feb2009, Vol. 56 Issue 1, p54
Trade Publication
This article discusses the liability of business directors for criminal fraud prosecution under the U.S. Sarbanes-Oxley Act of 2002. The importance of Section 804 of Title VIII — Corporate and Criminal Fraud Accountability is assessed. Issues relating to the assessment of the behavior of corporate directors and officers and their possible indemnification from criminal liability is described. The financial and legal implications of liability under Sarbanes-Oxley for directors and officers insurance policies is described. Possible limitations regarding the coverage of multiple directors and officers are noted.


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