Of interest to all involved in board governance
The OECD has published an interesting report on the Duties and Responsibilities of Boards in Company Groups, an overview of the duties and responsibilities of boards in company groups across 45 jurisdictions.
Some of this is quite legal and theoretical, but it highlights differences and similarities across jurisdictions, including:
- how directors may take into account group interests;
- procedures for managing conflicts of interest;
- compensating losses incurred by a group company for the benefit of the group;
- transparency around group purposes and allocation of business opportunities; and
- allocation of responsibility for company policy and oversight between parent and subsidiary boards.
The report is available here
