Volume 90, No. 4, Summer 2018
By Jon Smollen [PDF]

The 1996 Caremark opinion by Chancellor William Allen of the Delaware Chancery Court is a historic event in corporate compliance. Most observers believe that Caremark established an obligation by corporate boards to assure that the corporations they direct have compliance reporting systems and controls to detect, deter, and address illegal or problematic activities.

Jon Smollen is a Practice Professor of Law and Director of the Center for Compliance and Ethics at Temple University Beasley School of Law.