 |
Investor Relations « Governance »
Governance
Board Independence
The Rules and Regulations of the Federal Housing Finance
Board (Title 12, CFR) holds that "any member of
the Bank's board of directors shall be considered to
be sufficiently independent to serve as a member of
the Audit Committee if that director does not have a
disqualifying relationship with the Bank or its management
that would interfere with the exercise of that director's
independent judgment." Such disqualifying relationships
include, but are not limited to:
- Being employed by the Bank in the current year or
any of the past five years;
- Accepting any compensation from the Bank other than
compensation for service as a board director;
- Serving or having served in any of the past five
years as a consultant, advisor, promoter, underwriter
or legal counsel of or to the Bank; or
- Being an immediate family member of an individual
who is, or has been in any of the past five years,
employed by the Bank as an executive officer.
|
|
