The Corporate World Is Evolving Much Faster than Warren Buffett or Jamie Dimon

“Our country, our economy and the future of our citizens depend on getting corporate governance right.” There was nothing innovative about Buffett and Dimon’s list. Although it includes the idea that directors might speak with shareholders, that was something the Business Roundtable outlined in principles it produced over a decade ago. So too was the call for a review of earnings guidance practices, which the CFA Institute and a panel of the Business Roundtable advocated ending 10 years ago. The Buffett-Dimon practices also included some responsibilities for asset managers. But assigning responsibilities to investors is not new either and the U.K. has produced a much heftier list of requirements in recent years, including six years ago.