Episode 137- Debating the Statement on the Purpose of a Corporation

Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode, Matt Kelly  and I go into the weeds to discuss our views on the Business Roundtable’s recently released Statement on the Purpose of a Corporation.   Some of the highlights include: Ø Tom believes it is an important first step to consider the various stakeholders in a business enterprise.Ø Matt has a bit more cynical view of the document. Ø Matt is concerned that the Statement does not have the force of law and indeed may be antithetical to corporate law. Ø Matt is suspicious of the timing of the Statement. Ø Tom believes it provides a playbook for both corporations and lawmakers in the debate going forward. For additional reading see Tom’s blog post Statement on the Purpose of a Corporation and What it Means for the Compliance Professionalon the FCPA Compliance Report.

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