The Qualified Legal Compliance Committee: Using the Attorney Conduct Rules to Restructure the Board of Directors

The Securities and Exchange Commission introduced a new corporate governance structure, the qualified legal compliance committee, as part of the professional standards of conduct for attorneys mandated by the Sarbanes-Oxley Act of 2002. QLCCs are consistent with the Commission\u27s general approach to improving corporate governance through specialized committees of independent directors. This Article suggests, however, that assessing the benefits and costs of creating QLCCs may be more complex than is initially apparent. Importantly, QLCCs are unlikely to be effective in the absence of incentives for active director monitoring. This Article concludes by considering three ways of increasing these incentives

Random Field and Random Anisotropy Effects in Defect-Free Three-Dimensional XY Models

Monte Carlo simulations have been used to study a vortex-free XY ferromagnet with a random field or a random anisotropy on simple cubic lattices. In the random field case, which can be related to a charge-density wave pinned by random point defects, it is found that long-range order is destroyed even for weak randomness. In the random anisotropy case, which can be related to a randomly pinned spin-density wave, the long-range order is not destroyed and the correlation length is finite. In both cases there are many local minima of the free energy separated by high entropy barriers. Our results for the random field case are consistent with the existence of a Bragg glass phase of the type discussed by Emig, Bogner and Nattermann.Comment: 10 pages, including 2 figures, extensively revise