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Best of the Best Practices in Corporate Governance
During the past 2 years, there have been sweeping corporate governance reforms. The major components of that reform have been the passage of the Sarbanes-Oxley Act of 2002 by the U.S. Congress, the issuance of extensive rules pursuant to that Act by the Securities and Exchange Commission, and the adoption by the New York and American Stock Exchanges and NASDAQ of detailed standards as part of their respective listing requirements. Despite these reforms, many corporations, counselors, institutional investors and regulators have pushed for even higher standards of corporate governance. To that end, a body of literature has developed defining the “best practices” in corporate governance.
One common theme emerges from these efforts to define “best practices” — there is no cookie cutter formula that works for every corporation. Thus, for example, the corporate governance practices outlined in the lengthy report of Richard Breeden, the former Chairman of the Securities and Exchange Commission and court-appointed Monitor in the WorldCom case, may be viewed as overkill and unnecessary for most companies. However, for WorldCom, which has been the subject of widespread problems and seeks to recover credibility in the marketplace, the remedial measures outlined in Breeden's report may be appropriate.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.