Under the rules governing directors' disclosure, any director must notify the company's chairman of any share dealings, including the use of shares as security for loans.
But the decision by Michael Horowitz, the I.G., to examine the propriety of the F.B.I. director's disclosure of politically damaging information about Clinton last October 28th was the right one.
One, the transaction is approved by the disinterested directors after disclosure of the material facts.
"It creates checks and balances with independent directors, a disclosure regime and S.E.C. oversight, all of which benefit investors," Mr. Roiter said.
CAIRO — Al Jazeera, the pan-Arab news network financed by Qatar, named a member of the Qatari royal family on Tuesday to replace its top news director after disclosures from the group WikiLeaks indicating that the news director had modified the network's coverage of the Iraq war in response to pressure from the United States.
Mr. Foerster, the former fund director, said that disclosure of directors' qualifications, employment history, compensation and detailed ownership in the fund should appear in all fund literature.
"It's a totality of circumstances," said Julia Davis, the board's director of financial disclosure, citing some elements in the analysis.
Barry Johnston, ActionAid campaign director, said: "The disclosure that UK banks are paying tiny amounts of tax will fuel public anger at a tax system perceived as being hugely unfair.
And it fueled the nearly three-year campaign by the agency's clandestine service for permission to destroy the tapes, culminating in a November 2005 destruction order from the service's director, Jose A. Rodriguez Jr. Now, the disclosure of the tapes and their destruction in 2005 have become just the public spectacle the agency had sought to avoid.
