Why was the Duty of Loyalty of the Board relevant to Elon Musk’s bonus case? Did the Duty of Care affect how the Boards of American companies overseas decide whether or not to return home in the tariffs saga? What about the so-called private placement and the role of the broker-dealers? Does it make sense to transition from a traditionally compliance based toward a more risk based supervision? Given Charles’s previous experience as trader and investment banker, our conversation also touched on the importance of deposit insurance scheme in the US…and many things in between.