Associate Professor Paul Regan recently spoke at a conference on the future of corporate reform in Park City, Utah.
The three-day event attracted nearly two dozen speakers, including former U.S. Secretary of State Colin Powell, former New York City Mayor Rudy Giuliani and a host of legal professionals from the corporate law sector. Attendees also heard from Aron Ralston, the hiker who made worldwide headlines in 2003 when, after being pinned by a half-ton boulder for nearly a week in a remote Utah canyon, he severed his right arm with a pocketknife. Ralston’s story was the inspiration for the Oscar-nominated film “127 Hours.”
The conference, titled the “Fourth-annual Future of Corporate Reform: 2012 Public Funds Forum” examined such topics as global risks, innovations in governance, and fiduciary duties. Regan spoke on a panel that analyzed innovative solutions being used by public fund fiduciaries to protect fund assets.
“The conference offered a rare and interesting opportunity to engage directly with the trustees of public pension funds that invest billions of dollars in publicly traded U.S. corporations, most of which are Delaware corporations,” Regan said. “It was fascinating to speak directly to such institutional investors about corporate governance under Delaware law and the mechanisms by which Delaware law strives to maintain a balance between protecting the authority of directors to manage corporations while ensuring, through stockholder litigation, that directors are held accountable as fiduciaries.