The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Transatlantic Corporate Governance Dialogue: Corporate Board Elections and Internal Controls
The American Law Institute (ALI) and the European Corporate Governance Institute (ECGI) are cosponsoring the 2005 Transatlantic Corporate Governance Dialogue—a free, all-day conference with government officials, corporate leaders and scholars from Europe and the United States.
Date and time Tuesday, September 27, 2005 Starting at 8:30 a.m.
Location Federal Reserve Bank of New York 33 Liberty Street New York, NY 10045
How to register Registration is closed.
Overview The keynote speakers will be William J. McDonough, chairman of the Public Company Accounting Oversight Board and president of the Federal Reserve Bank of New York from 1993 to 2003; and Alexander Schaub, director general of the Internal Market Directorate-General at the European Commission.
Additional speakers from the United States include: James H. Cheek, III, a partner in the law firm of Bass, Berry & Sims PLC; Lance Liebman, professor of law at Columbia University and director of ALI; Martin Lipton, a partner at Wachtell, Lipton, Rosen & Katz; Robert Mundheim, counsel to Shearman & Sterling LLP; and Donald T. Nicolaisen, chief accountant of the U.S. Securities and Exchange Commission.
Other European speakers include: Marco Becht, professor of finance and economics at Université Libre de Bruxelles and executive director of ECGI; Antonio Borges, vice chairman of Goldman Sachs International and chairman of ECGI; Pierre Delsaux, head of unit and acting director in the Internal Market Directorate-General at the European Commission; Guido Ferrarini, professor of law at the University of Genoa and vice chairman of ECGI; and Klaus J. Hopt, director of the Max Planck Institute for Foreign Private and Private International Law.
The morning session will aim to shed light on the evolution of board elections, for which different arrangements exist in the United States and across the member states of the European Union. In the United States, the current default system for board elections is plurality voting, while in most European countries it is majority voting.
The afternoon session will discuss the internal control rules that have been put in place in the wake of the corporate governance scandals in the United States and Europe. It will examine the experience with the new rules on both sides of the Atlantic and in the transatlantic relationship. A panel will also consider the future development of internal control rules and practices.