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Which of the following is the most important reason that regulators want there to be at least one independent director on the boards of financial

Which of the following is the most important reason that regulators want there to be at least one independent director on the boards of financial institutions?

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  • Because independent directors are apt to be more honest.

  • Because independent directors are better able to guide the financial institution into the future.

  • Because the CEO and CFO might produce innacurate financial statements.

  • Because independent directors are apt to know the company better than management.

  • Because management cannot be trusted to act in the best interest of bond and equity holders.

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