Corporate Counsel Features Akin Gump’s Top 10 Topics for Directors Alert

Akin Gump’s annual Top 10 Topics for Directors client alert was featured in the Corporate Counsel article “More Corporate Director Involvement Expected in 2019: Report.” The article reports on the firm’s annual forecast for the biggest issues facing corporate directors and counsel in the upcoming year. Topics on the list include the #MeToo movement and the midterm elections as well as cybersecurity, board diversity and more.

Akin Gump energy partner Christine LaFollette, one of the authors, notes that most of the issues in the report (available here) involve increased responsibility on the part of directors and their in-house lawyers. “We can’t be reactive,” she said. “We have to be proactive, with the GCs being able to tell their boards,” about the exposure they face.

LaFollette added, “This is something that is worthy of a lot of thought and discussion in boardrooms with management and with legal counsel.” She also warned that crises will occur and boards need to be ready for them.

In addition to corporate culture, board diversity, and corporate strategy, the report noted that responsible boards should anticipate the possibility that allegations of sexual harassment may arise against a C-suite or other senior executive. Directors must also be aware that social issues were at the forefront in 2018 as was corporate social responsibility.

Finally, boards could see more regulatory work in the coming year, with LaFollette noting that there could be new actions by regulatory agencies such as the SEC and Department of Justice, including regulations and sanctions, as well as from investigations by Congress as a likely result of the midterm elections.

“In fairness, the GCs are going to be spending a lot of time keeping the board up-to-date and maneuvering through the legal reports and requirements that come out of Washington,” LaFollette said.