Directors' Duties Under Common Law and Statute

Over recent years there has been increasing publicity concerning the roles that directors play when it comes to their relationship with a company and its shareholders. A number of recent corporate scandals have led governments and regulatory authorities in a number of jurisdictions to impose complicated — some might may say onerous — laws and regulations concerning directors and their duties.

Directors' responsibilities in England and Wales are broadly governed by three sets of rules and regulations. Firstly there are fiduciary duties which have developed over the years through common law. Secondly there are those...