this post was submitted on 24 Jan 2024
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The fines need to be large enough to upset the shareholders if they are going to have any effect.
I'd say that the board members also have to have some personal liability (criminal of course, but also limited financial liability and a temporary or permanent ban on serving on any board or executive (legally responsible) position, depending on circumstances. Incentives must be aligned, and not something that they can justify as a cost of doing business.