In a recent speech, SEC Chair Mary Jo White put directors of public companies on notice of their responsibility as “essential” and “important” gatekeepers upon whom their investors and the SEC rely. Chair White described directors as the SEC’s “partners” in preventing, detecting, and stopping violations of the federal securities laws. She set forth a laundry list of responsibilities she believes lie with directors, including strong corporate compliance programs, comprehensive review of shareholder proposals, and active oversight of senior management. She reminded directors that the SEC will pursue directors when necessary, citing two enforcement actions the SEC brought against audit committee chairs.  Read More.