Seminar participants from left to right are:
Professor Dana Muir, Thurnau Professor of Business Law at the Stephen M. Ross School of Business, University of Michigan
Dr Michelle Welsh, Deputy Director, WCLRG
In the USA, state law seems to be ratcheting up the scrutiny of corporate behavior including the behavior of officers and executives. This paper is based on a joint article with Professor Cindy Schipani which considers the issues that are likely to arise as officer conduct is scrutinized closely using state corporate fiduciary principles.
The challenge is not so much one of ensuring that fiduciary principles govern the conduct of corporate actors as it is correlating obligation with potential liability. U.S. federal employee benefits law, especially superannuation law, is helpful in anticipating the issues that state corporate law will confront in its increasing focus on officer liability.
The paper looks to federal employee benefits law to identify issues expected to arise as a result of the growing state law emphasis on individual liability and to consider alternative approaches to address those issues. In her presentation Professor Muir focused on the employee benefits fiduciary standards.