The Organisation for Economic Cooperation and Development (OECD) has published a report on the Duties and Responsibilities of Boards in Company Groups, which provides an overview of the legal duties and responsibilities of boards in company groups in 45 countries. These include many of the world’s largest economies in OECD, G20 and Financial Stability Board members.
The report discusses:
• how directors may take into account group interests;
• procedures for managing conflicts of interest;
• compensating losses incurred by a group company for the benefit of the group;
• transparency around group purposes and allocation of business opportunities; and
• allocation of responsibility for company policy and oversight between parent and subsidiary boards.
The report can be downloaded click here.