SEC Approves Final NYSE and Nasdaq Corporate Governance Standards
Goodwin Procter LLP
On November 4, 2003, the SEC approved final amendments to the NYSE and Nasdaq corporate governance listing standards. The final amendments are nearly unchanged from the proposed amendments summarized in our Public Company Advisories dated October 21, 2003. The principal new requirements for both NYSE and Nasdaq companies include the following items.
SEC Approves NYSE and NASDAQ Proposals Relating to Director Independence
Akin Gump Strauss Hauer & Feld LLP
On November 4, 2003, the Securities and Exchange Commission (SEC) approved listing standards proposed by the New York Stock Exchange (NYSE) and the Nasdaq Stock Market, Inc. (Nasdaq) relating to board composition and director independence. The new listing standards affect the composition of the boards of directors and board committees of listed companies and impact the individual members of the board.
SEC Approves AMEX Corporate Governance Reforms
Goodwin Procter LLP
On December 1, 2003, the SEC approved the American Stock Exchange's proposed corporate governance reforms. The publication of these reforms marks the latest step in a process that began on June 23, 2003 when AMEX initially filed its proposed rule changes with the SEC.
Risk Management of Financial Derivatives: Banking Director's and Senior Managment's Responsibilities
Pillsbury Winthrop Shaw Pittman LLP
On July 18, 1994, the Chairman of the Senate Banking Committee introduced legislation which would require banks .
Director Independence
Nils H. Okeson of Alston & Bird LLP
The role of independent directors lies at the center of the current movement aimed at enhancing corporate governance among U.S. public companies. But, independence is in large part dependent on the particular governance function being performed by the director.