In What Way Are a Duty of Competence and a Fiduciary
In what way are a duty of competence and a fiduciary duty similar?
A) Both are obligations owed to a corporation's creditors.
B) Both are strict liability obligations owed to external stakeholders.
C) Directors are relieved from them by delegating authority to officers.
D) Neither is an obligation owed by a director that can be delegated.
Which of the following is a valid criticism of the CSA corporate governance policies adopted as "best practices" guidelines in June 2005 by the Canadian Securities Commissions?
A) Enforced mandatory guidelines increase the lifting of the corporate veil.
B) They fail to nationally harmonize securities regulation policies.
C) They fail to enforce the effective oversight of the auditing profession.
D) Non-mandatory guidelines are ineffective compared to enforceable deterrents.
Which of the following is a requirement of the CSA rules with respect to corporate governance reforms?
A) creating an oversight committee composed of subordinate directors
B) creating an audit committee composed of autonomous directors
C) avoiding appointing a maverick individual to the position of chair
D) avoiding circumstances that enable boards to act independently of management
What is the role of the fiduciary principle in matters with respect to corporate law relating to governance?
A) to impose duties owed to the board of directors
B) to impose duties owed to the corporation
C) to uphold duties owed to creditors
D) to uphold duties owed to a group of shareholders