How often does the Board have to meet?

CFA Level II
#1

Schweser says independent directions should meet at least annually, and says the Board should meet regularly. So for the whole board, what does regularly mean–is there any number associated here?

#2

companies usually release quarterly results, I assume those people should meet at least quarterly to discuss at least the results. And they get paid for this, so they should do some work :-). I think.

#3

ok yea thats interesting. there was a CFAI EOC Q tht said a board meant “for the first time in 6 months” and the answer was that this was bad corp governance. so for the exam i will assume at least quarterly. thanks as always for your help.

#4

I’m pretty sure that the reference to the board meeting annually is that all independent board members should meet at least once annually without any management present.

#5

yes youre right

#6

CFAI text mentions them to meet quarterly as showNY mentioned there’s EOC question on this too…

#7

quarterly

#8

Quarterly and any time a significant event comes up

#9

Indep directors at least annually Full board “frequently” taken to mean quarterly