# kaal:claim:2317580-024

**Claim.** Although CIAs are not laws, they go beyond aspirational governance standards because they set forth concrete governance rules that more clearly define the duties to be informed, to exercise oversight, and to maintain effective reporting systems, thereby requiring a higher standard of care.

**Type.** design  **Support.** argued

**Holds when.**

- directors of companies operating under a CIA

**Source quote.**

> Although CIAs are not laws, they do go beyond aspirational governance standards. CIAs set forth concrete governance rules that expand the fiduciary duties of directors.

**From.** Wulf A. Kaal, Elizabeth R. Malay, *The Role of Corporate Integrity Agreements in the Expansion of Fiduciary Duties* (2013), IV. The Role of CIAs in Expanding Fiduciary Duties, page 14

**Cite as.** Wulf A. Kaal, Elizabeth R. Malay, The Role of Corporate Integrity Agreements in the Expansion of Fiduciary Duties (2013). SSRN: https://ssrn.com/abstract=2317580

**Verify.** sha256 of source PDF `50973e1e820aef47a4e7ffdbdcb513d03f1845643fcf4fa5910e9528a0b7dac2` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Malay%20-%202013%20-%20The%20Role%20of%20Corporate%20Integrity%20Agreements%20in%20the%20Expansion%20of%20Fiduciary%20Duties.pdf

**Topics.** governance-design, corporate-governance, compliance

**Keywords.** aspirational-governance, standard-of-care, duty-of-oversight, corporate-integrity-agreements

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