LAW 534 Chapter Notes - Chapter 10: Fall Guy, Ion, Canadian Business

• School: Ryerson University
• Department: Law and Business
• Course: LAW 534
• Professor: Gil Lan

Document Summary

This official would be responsible for coordinating compliance in the organization as a whole (as opposed to being the fall guy). There are many individuals who are senior managers in organizations, but who lack the official titles that corporate officers have. These individuals may be the most exposed in the future, as they do not often have indemnification agreements or insurance. Factors to assist in determining the scope of influence and control of individuals who are directors or officers and senior managers: These factors would help to determine whether the individual should be held accountable, subject to due diligence, for the actions of their subordinates: Systems for individual due diligence separated from corporate due diligence. Directors will satisfy due diligence requirements if they create a system to prevent and correct offences. The issue concerns the way in which an individual"s responsibility for corporate compliance interacts with that of an organization.