Corporate Governance and Board Fiduciary Duties

Live Webcast: Tuesday, September 18, 2012 • 2:00 p.m. - 3:30 p.m. EDT

On-Demand webcast expiration date:  September 18, 2013   

Open to all credit unions, regardless of membership or charter type!

The current regulatory and financial environment has created a renewed focus on the duties of federal credit union directors, particularly as a result of the Wescorp litigation and recent failures of natural person credit unions. This session will cover the general principles of the fiduciary duties of directors and the NCUA’s fiduciary duty rules as well as corporate governance best practices. Observance of these standards is critical in protecting the board and the institution from liability and regulatory criticism.  

By attending this webcast, participants will walk away with:

• An understanding of the basic fiduciary duty principles, including the duty of loyalty and the duty of care, what they mean and how they are applied as a practical matter
• Information on relevant case law interpreting the board’s fiduciary duties in specific circumstances 
• Knowledge of how to comply with the NCUA fiduciary duty rules.
• How to protect yourself as a director
• Corporate governance best practices and current issues
• An understanding the NCUA’s authority to redress a breach of fiduciary duty

John Gorman
Partner
Luse Gorman Pomerenk & Schick P.C

John Gorman is a partner in the Washington, D.C. based law firm of Luse Gorman Pomerenk & Schick P.C.  He is a former special counsel to the chief counsel for the Corporation Finance Division of the Securities and Exchange Commission (“SEC”). Since leaving the SEC in 1984, Gorman has specialized in providing both transactional and general corporate and securities law advice to financial institutions and their holding companies. He regularly advises management and boards of directors in connection with corporate governance matters, merger and acquisition transactions, and executive compensation. Mr. Gorman is a faculty member of the National Association of Corporate Directors (“NACD”) and served as a commissioner on the NACD 2004 Blue Ribbon Commission on Board Leadership. He is a director of SmartPros Ltd., a NASDAQ traded company engaged in the field of accredited professional education and corporate training, and is a member of the audit committee and chair of the compensation committee.

Lawrence Spaccasi
Partner
Luse Gorman Pomerenk & Schick P.C

Lawrence Spaccasi is a partner in Luse Gorman Pomerenk & Schick, and represents financial institutions and their holding companies on a wide range of securities, corporate, executive compensation and regulatory law matters. He has more than 20 years’ experience with financial institutions and routinely advises boards of directors on corporate governance matters.

Richard Garabedian
Partner
Luse Gorman Pomerenk & Schick P.C

Richard Garabedian is a partner in Luse Gorman Pomerenk & Schick. He has represented credit unions, banks and savings institutions for more than 30 years in connection with mergers, regulatory matters, corporate governance, charter expansions, capital raising, enforcement actions, CUSO formations, vendor contract review and executive compensation plans. Garabedian represents clients before all of the federal banking agencies and various state agencies, as well as the Securities and Exchange Commission.

Credit union staff that will benefit from this webcast include:

• CEO and Presidents
• Directors
• Supervisory Committee Members 
• Executive Officers
• Compliance/Legal/paralegal/Attorney and Risk Staff
• Consultants
   
  

NAFCU's webcasts include live streaming video and audio of the presenters along with presentation slides and downloadable handouts.  You can easily submit your questions to the presenters at any time and there is no dialing in over the phone!  The audio and video stream directly through your computer

Registration Fees

On-Demand webcasts are available for up to 12 months after the live broadcast and are included in the registration fee.

Broadcast live from NAFCU's Headquarters in Arlington, VA.