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No, don't get hung up on unnecessary details. The reasonable company director should have known X and when found out was bound to report it. Person Y did not r
by harry8 9y ago
No, don't get hung up on unnecessary details.
The reasonable company director should have known X and when found out was bound to report it. Person Y did not report it, should have known as it was their job to know and there aren't extenuating circumstances. Guilty. 6 months. Next case.
"I don't know anything about this company I accept 7 figure sums to oversee as a director." Should never be any kind of legal defence. If senior management and directors have something personally at risk you'll see vastly improved behavior. Right now we're selecting for the opposite and seeing the inevitable results.
There is a story like this about directors and management cover ups every single day
- nroets 9y agoSo person Y read an email late at night and forgot about it. So you send a director to jail. Tomorrow many of the "good" directors feel scared and they simply do not accept any new appointments. Who will fill the void ? People who are overconfident and people who are not scared of going to jail. It's much better to impose financial penalties. Should the directors or the shareholders pay ? Let them figure it out between themselves!
- JumpCrisscross 9y ago> So person Y read an email late at night and forgot about it. So you send a director to jail We do this for CFOs, Chief Compliance Officers and many other roles for many other things.