Editor: Bob, please tell us about Freddie Mac.
Bostrom: Many people believe that Freddie Mac is a part of the government or serves as a lender. In fact, we are neither of those things. We are a stockholder-owned, NYSE-listed company that was chartered by Congress in 1970 with the mission of bringing liquidity, stability and affordability to the U.S....
The following checklist suggests some, but certainly not all, of the kinds of questions that Boards of Directors and, in particular, Audit Committees should be asking management:
Do compliance risk managers or a risk management committee have the authority and backing of the Board?
Has the CEO made compliance and risk management a strategic...
Part I appeared in the July 2004 issue of The Metropolitan Corporate Counsel. Part II covers questions to be considered by corporate counsel with respect to the checklist included in Part I. It also covers the codes of ethics requirements of Sarbanes-Oxley, NYSE and NASDAQ and questions pertaining to them.
Part II, which will appear in the August 2004 issue of The Metropolitan Corporate Counsel will include questions to be considered by corporate counsel with respect to the checklist included in Part I and will discuss other recent developments highighting the importance of risk management.