Corporate governance is a framework of rules and regulations that governs the leadership, organization, and management of a company. In addition to compliance with laws, rules, and regulations, corporate governance may include compliance with the company’s corporate charter, bylaws, formal policies, customs, and internal processes. The company’s board of directors often directs its corporate governance over a broad range of functions, including financial reporting and disclosures, securities laws, risk management, operating plans and budgets, strategic planning, succession planning, crises management, internal controls, internal audits, preventing foreign corrupt business practices, and executive compensation.

In Wyoming, corporate governance is primarily governed by the Wyoming Business Corporation Act, which sets forth the statutory framework for the management and regulation of corporations within the state. This includes provisions on the formation of corporations, the powers and duties of directors and officers, shareholder rights, and the requirements for corporate bylaws and articles of incorporation. Companies must also adhere to federal laws such as the Sarbanes-Oxley Act for financial reporting and disclosures, the Dodd-Frank Act for financial reforms and consumer protection, and the Foreign Corrupt Practices Act to prevent bribery of foreign officials. Additionally, corporations in Wyoming must comply with their own internal documents like corporate charters and bylaws, which often detail governance practices more specifically tailored to the individual company. These internal documents typically cover areas such as board structure and responsibilities, executive compensation, and internal controls and audits. It is the responsibility of the board of directors to ensure that the corporation adheres to these governance standards and practices, balancing the interests of shareholders, employees, customers, and other stakeholders.