Board members have the difficult job of overseeing the success of a firm without getting involved in day-to-day management or operations.  Increasingly, they are expected to understand compliance and other risks of misbehavior, particularly as those risks have been shown to impact financial performance.

In a commentary I co-wrote with Mike Silva, Partner and Chair of the Financial Services Regulatory practice at DLA Piper, we emphasize the role of corporate culture in promoting good behavior as well as financial stability.