HC-4.5 HC-4.5 Induction and Training of Directors
HC-4.5.1
The chairman of the board must ensure that each new
director receives a formal and tailored induction to ensure his contribution to the board from the beginning of his term. The induction must include:(a) Meetings withsenior management , internal and external auditors and legal counsel;(b) Visits to thelicensee's facilities; and(c) Presentations regarding strategic plans, significant financial, accounting and risk management issues and compliance programs.January 2014HC-4.5.2
The tailored induction for new directors may be provided by the
licensee's compliance officer.January 2014HC-4.5.3
All continuing
directors must be invited to attend orientation meetings and alldirectors must continually educate themselves as to thelicensee's business and corporate governance.January 2014HC-4.5.4
Management, in consultation with the chairman of the board, should hold programs and presentations to the
directors respecting thelicensee's business and industry, which may include periodic attendance at conferences and management meetings. The nominating committee shall overseedirectors' corporate governance educational activities.January 2014