The article discusses the issue of conflicts of interest, particularly in the context of Non-Executive Directors (NEDs) serving on multiple boards. Marcus Killick highlights the importance of preventing conflicts and the need for NEDs to manage their time effectively to fulfil their fiduciary responsibilities.
The article also addresses the concept of “chronic” conflicts, where an NED’s conflict persists on a permanent basis, potentially impairing their ability to perform their duties adequately. Regulatory concerns about “overboarding,” where NEDs take on too many roles, are mentioned, as is the need for NEDs to consider these issues seriously. The piece underscores that NEDs, especially those on the boards of licensed entities, should be cautious about the impact of conflicts and time management on their role, as regulators are increasingly focused on holding them accountable.
Read the article: Managing conflicts
(Article first published in Gibraltar International, 2018.)
Any views and opinions presented in this article belong to their author and do not necessarily mirror those of ISOLAS LLP. Due to the rapidly evolving nature of legislation, the content provided should not be taken as legal advice. ISOLAS LLP does not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information.