Thursday, November 04, 2004

toledoblade.com

toledoblade.com: "Area firms move to comply with board-ethics rules


Area firms say they are taking steps to comply with new federal guidelines requiring corporate board members to take more responsibility for the company's ethical compliance, but one expert said the guidelines are likely to hinder recruitment and retention of directors.
The new rules, part of 154-page update of federal sentencing guidelines basically in effect since 1991, put more of a burden on corporate boards to review their firms' compliance and ethics programs, said Peter Sprung, an internal-investigations expert with BDO Seidman LLP, a Chicago consulting firm.
'It increases board members' liability,' he said. 'It does not expose individual board members to the prospect of prison time.'
Corporate boards should use the guidelines as an opport"

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