NACD Washington Review, Q2 2019

In brief: After its first six months, the 116th Congress enters summer recess with few new laws, but numerous new bills—many of which deserve boardroom attention. Dominant legislative themes relevant for corporate directors include issues related to business and economic opportunity, climate events, compensation, diversity, and oversight of compliance, as well as cybersecurity and privacy. State capitals upstaged the nation’s capital as several pieces of legislation advanced to become laws, notably around board and/or company diversity. At the US Securities and Exchange Commission, non-GAAP accounting remains on the commission’s radar, while at the Public Company Accounting Oversight Board, critical audit matters (CAMs) and auditor independence topped the list of priorities. On the judicial front, the US Supreme Court ruled on a variety of business issues including class arbitration, class action lawsuits, and consumer standing in antitrust cases.

NACD’s quarterly Washington Review offers a board-centric summary of key regulatory developments likely to affect board governance and company strategy.

How boards can use this resource:

  • Get an early warning about nascent legislative, regulatory, and judicial developments relevant to boards and their companies.
  • Review emerging US government developments in one package, rather than as a series of headlines.
  • Understand how these developments might affect board governance.

Most relevant audiences: chairs and members of board committees tasked with oversight of risk and/or compliance, especially audit and risk committees; CEOs; general counsel