Institutionalizing Discipline: The Governance and Reporting Standards Every Public Company Must Master
In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn break down the seventh step of the Go Public Framework: I – Institutionalizing Discipline.
Institutional discipline is the foundation of long-term public-company success. It includes regulatory compliance, governance structure, transparent reporting, investor communication rhythm, and continuous risk oversight.
Listeners will learn:
• Why discipline becomes the priority after the DESPAC transaction closes
• What SOX compliance means and why it exists
• Why internal audit controls and certified financial statements matter
• How reporting cadence builds investor confidence
• Why ongoing guidance from legal advisors remains essential
• How insurance and D&O audits ensure leadership protection
• How crypto-involved companies must maintain disciplined treasury oversight
• Why the public markets reward companies that embed discipline into culture and operations
This episode prepares leaders for the governance and reporting expectations of public-company life.
Connect With the Guest:
Michael Blankenship, Winston & Strawn LLP
LinkedIn: https://www.linkedin.com/in/mikeblankenship
Connect With the Host & The DESPAC Podcast:
Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/
YouTube Channel: www.youtube.com/@thedespacpodcast
THE DESPAC PODCAST STANDARD LEGAL DISCLAIMER
The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of Smooth Stone Capital, its affiliates, or any sponsoring organization.
Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions.
Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements.
Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only.
Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.
Chaz Churchwell: Welcome back to the D SPAC Podcast, go Public series. I'm your host, Chas Churchwell, and I have with me Michael Blankenship. He's one of the top SPAC attorneys in the United States. So if he's talking and you're considering going public through a spac, you should be listening. So we've already talked about G-O-P-U-B-L, and if you're not sure what I'm talking about with there, make sure you go back, watch the other videos leading up to this.
Because they're clutch and critically important to get you where we are at this moment because Michael, today we're talking about I institutionalized discipline. So Michael, the deal's done. Now tell me why institutionalized discipline is so important looking forward.
Mike Blankenship: Well, Chaz, that's because the real work starts after the transaction closes.
You have to implement SOX compliant reporting and internal controls. These are federal requirements that ensure your finance reporting is accurate and your governance is sound.
Chaz Churchwell: Okay. So for our audience, SOX compliant reporting, it's SOX, not what you put on your feet. Tell us what that is.
Mike Blankenship: Yeah, so SOX is Sarbanes Oxley Act.
It's a act in, in the light of the Enron, uh, bankruptcy and issues. Uh, it's requires CFO and CEOs to certify, audited financial statements and also requires other internal audit controls. So it's important to have those in place if you're, uh, once you go public.
Chaz Churchwell: Got it. And thanks for that man. And then also, I mean, we've got Ks and Qs, right?
You've got all of your reporting that you has to, that you do and, and you want it to be not scattered and sporadic. You want it to be rhythmic. And so talk about that rhythm of reporting and why it's key.
Mike Blankenship: It is, you must maintain a consistent governance and investor relations cadence with 10 Qs, 10 Ks and proxy filings.
That is an expectation of investors and it certainly builds trust. And that's where my firm continues to be involved.
Chaz Churchwell: And then with that, in the same way that you're gonna continue to stay abreast and be rhythmic and reporting, you also wanna stay rhythmic just talking as the d and o guy. You want to be, uh, rhythmic and conducting.
Executive coverage audits of your d and o program and other coverage lines that you have, just making sure that you're staying dialed in because your company is evolving and your insurance needs will as well.
Mike Blankenship: That's right. And then for our companies with digital asset exposure, uh, they, this is where they maintain that board approved treasury policies and they continue to monitor regulatory developments to ensure they're compliant.
It's a new type of discipline, but it's just as a critical so. Next, we'll wrap up the series with C Continuing to Evolve.
Chaz Churchwell: That's gonna be the last one in our Go Public series. I'm fired up about it. You don't want to miss it. Smash the subscribe button below if you haven't already checked out. The other ones that we have on this Go Public series, they are a must watch.
So Michael Blankenship, thanks so much for being here and joining us. This is the D SPAC podcast.