- To increase awareness relating to current legal and business developments affecting corporate governance, and to develop written materials and presentations for the benefit of practitioners and policy-makers.
- Where policy questions arise, to provide thoughtful and balanced analysis of alternatives.
Regarding the mission:
The Current Events and Emerging Issues Subcommittee of the Business Law Section Corporate Governance Committee has the responsibility for identifying and educating the ABA community about important occurrences affecting the law and practice of corporate governance, as well as trends and changes on the horizon. The Subcommittee is ABA's vanguard in bringing such matters to the attention of the ABA community, and facilitating further discussion and study.
Corporate governance is part of the infrastructure supporting capital markets. Governance rules channel the behavior of managers, investors, and directors in expected ways to help ensure the rights of stakeholders, provide accountability and support investment.
Investors rely on liquid markets to store and invest wealth. Under the securities laws, public companies internalize the cost of generating the information used by all capital market participants. These company disclosure costs represent, collectively, maintenance costs for a viable securities market.
Governance rules will understandably require change as business, technology and social conditions change. The need to make governance rule changes from time to time to adapt to changing conditions is therefore part of a healthy process of keeping laws current. Because governance rules support trillions of dollars of investment, changes should not be made lightly, but rather after careful analysis and study.