Friday, December 07, 2007

Tougher Action Proposed Against Dishonest Directors

Published on the BTimes: Tougher measures proposed against dishonest directors

  • One of the recommendations is that criminal sanctions be imposed for the contravention of directors' duties that are accompanied by fraud or dishonesty.

    If directors had failed in their duties but there was no fraud or dishonesty, the regulators should be able to then initiate civil proceedings against them, the CLSC proposed.

    It also recommended that regulators be given a general power to initiate civil proceedings in its own name on behalf of the company if it appears to be in the public's interest to do so.

WOW. Christmas came early. I love this proposal but dear Santa, could you ensure that this is more than a proposal? Am I asking too little if I ask for stringent enforcement of the proposal?

What a great way to start the morning.

The gloom caused by the continuous rain did not help either and this news article was simply the tonic I am looking for. Reminds me of one this favorite rock song of mine by the legendary rock group Boston. (wasn't it 1976 when the song was released?)

I looked out this morning and the sun was gone
Turned on some music to start my day
I lost myself in a familiar song
I closed my eyes and I slipped away ...

Here's the video I loved the best posted at Youtube.