While performing their fiduciary duties, board members are privy to sensitive information which must remain private. Board members must be able discuss sensitive information without fear that it will be disclosed.
To limit the possibility of leaks, boards should implement a number of robust security measures including restricting access to sharing, stopping sharing, encryption of documents and backing them up. They can also use an online management system for boards that offers granular controls on documents to prevent unauthorized printing or downloading, and also screen shots. It also offers an audit trail with detailed information on the user’s activities down to the page level.
A well-written confidentiality policy can also assist in ensuring confidentiality of board members since it clearly communicates to directors the obligations they have and creates a culture that believes that leaking is dishonourable and unethical conduct. The chairman or the lead director could provide the policy to prospective directors prior to their nomination and to directors in their published here current position before their term starts so that they have the opportunity to ask questions and sign the agreement if they want to.
For the most sensitive data such as a secure board portal that lets users access documents only on devices they own and use solely for this purpose is the most effective way to safeguard confidential data. Govenda’s secure board portal provides high-end security for enterprises and precise document control features like tamper proof watermarks, blocked printing to files and revocation of download permissions and logging usage to see who has viewed and printed each document.