The Board's Role in Corporate Compliance is Changing - Fast | Foley & Lardner LLP

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When it comes to a corporate board’s oversight of compliance programs, it’s no longer business as usual.
In 2019, a Delaware court shifted the board oversight standard from “sustained or systemic failure of the board to exercise oversight” to a proactive requirement that directors “must make a good faith effort to implement an oversight system and the monitor it” – a requirement that dovetails with the Department of Justice’s (DOJ’s) compliance update this past June, whereby leadership’s oversight of compliance will be judged by their ability to focus on risks unique to their company, use data to test programs and track effectiveness, and demonstrate evolution of said programs, among other criteria.

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