There is no substitute for a culture of integrity in organizations. Compliance alone with the law is not enough. History shows that those who make a practice of skating close to the edge always wind up going over the line. A higher bar of ethics performance is necessary. That bar needs to be set and monitored in the boardroom.  ~J. Richard Finlay writing in The Globe and Mail.

Sound governance is not some abstract ideal or utopian pipe dream. Nor does it occur by accident or through sudden outbreaks of altruism. It happens when leaders lead with integrity, when directors actually direct and when stakeholders demand the highest level of ethics and accountability.  ~ J. Richard Finlay in testimony before the Standing Committee on Banking, Commerce and the Economy, Senate of Canada.

The Finlay Centre for Corporate & Public Governance is the longest continuously cited voice on modern governance standards. Our work over the course of four decades helped to build the new paradigm of ethics and accountability by which many corporations and public institutions are judged today.

The Finlay Centre was founded by J. Richard Finlay, one of the world’s most prescient voices for sound boardroom practices, sanity in CEO pay and the ethical responsibilities of trusted leaders. He coined the term stakeholder capitalism in the 1980s.

We pioneered the attributes of environmental responsibility, social purposefulness and successful governance decades before the arrival of ESG. Today we are trying to rebuild the trust that many dubious ESG practices have shattered. 


We were the first to predict seismic boardroom flashpoints and downfalls and played key roles in regulatory milestones and reforms.

We’re working to advance the agenda of the new boardroom and public institution of today: diversity at the table; ethics that shine through a culture of integrity; the next chapter in stakeholder capitalism; and leadership that stands as an unrelenting champion for all stakeholders.

Our landmark work in creating what we called a culture of integrity and the ethical practices of trusted organizations has been praised, recognized and replicated around the world.


Our rich institutional memory, combined with a record of innovative thinking for tomorrow’s challenges, provide umatached resources to corporate and public sector players.

Trust is the asset that is unseen until it is shattered.  When crisis hits, we know a thing or two about how to rebuild trust— especially in turbulent times.

We’re still one of the world’s most recognized voices on CEO pay and the role of boards as compensation credibility gatekeepers. Somebody has to be.

Finlay ON Governance

The straight goods on ethics, governance and leadership. Insights and commentary on today's news and tomorrows headlines you won't see, hear or read anywhere else.
Immediate Media Inquiry

Boardroom of Felons

We have received a number of emails from readers who were shocked at the revelation, first brought to light on these pages, that, between them, the boards of Livent and Hollinger had seven directors who became convicted felons.  Here’s another gem:  three of them were...

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The Less than August Summer of Conrad Black

The Hollinger newspaper empire he once ruled sputters to an ignominious end; the appeal he boasted waxed the floor with the prosecution results in unanimous defeat.  Even his prison garb pant legs defy the once exacting baronial standards of symmetry and perfection....

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Conrad Black: Lord of What Might Have Been

How strange it is that success can be such an impostor and only a warm-up for the main act of self-inflicted tragedy yet to arrive. When Lord Kylsant of Carmarthen lost all hope of appeal in 1931, the wealthy titan was taken off and spent the next year in London's...

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The Baron of Baggage

Of all the indignities Conrad Black has had to endure, much of them admittedly at his own hands, none has been more symbolic than to go from being lauded as a British baron to being dismissed as a piece of “baggage” by the company he once headed. In our view, it has...

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The Ides of March Beckons Conrad Black

Conrad Black's freedom can now be measured in days -31 to be precise- as a result of U.S. federal court judge Amy St. Eve's decision to deny the request of Mr. Black and his co-defendants to remain free while their appeals are considered. The judge found that no...

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Do-little OSC Does Less Again With Conrad Black

The Ontario Securities Commission has again, for the sixth occasion, delayed its proceedings against Conrad Black. This time, the hearing that was to have commenced on January 8th has been rescheduled for the end of March, the same month that Mr. Black has a rather...

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Hollinger Sets Another Record –And Not a Good One

Never have so many directors of a single publicly traded company been convicted on criminal charges in connection with their duties as board members. With the formal sentencing yesterday of F. David Radler today on one count of fraud following the prison terms set...

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Is Elba or St. Helena Next for Conrad Black?

The otherwise avoidable fall of great men from high places always commands public attention and often history’s scorn. It is difficult to know what the future holds for Conrad Black. We learned yesterday that he has been sentenced to 6 1/2 years in a U.S. federal...

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Is it Time for Hollinger (and Sun-Times Media) to Go?

It may be better to let these damaged and discredited names sink ignominiously into the history books as a cautionary lesson to all stakeholders in how not to run a company. The National Post recently took a look at the pitiable state of Hollinger Inc., and its...

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