Sarbanes Oxley
In essence, sarbanes oxley gives corporate boards far less flexibility than they once had while simultaneously leaving executives with far fewer reasons to want to be a board member. If you are a successful executive late in your career, the benefits of lending your considerable expertise as a board member no longer outweigh the risks to your net worth. Without a doubt, the intent of Sarbanes-Oxley is admirable, and sorely needed. However, the practical functioning of this legislation leaves much to be desired. More on sarbanes oxley 301.
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