Since passage of the Sarbanes-Oxley Act in 2002 ushered in new fears over director liability, finding qualified board members who are willing to take the job has been a more challenging task. Now two recent enforcement actions by the Securities and Exchange Commission against directors might be giving potential board members even more pause.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...