ISSN:
1528-5812
Source:
Emerald Fulltext Archive Database 1994-2005
Topics:
Economics
Notes:
In one of the last major Enron-related corporate reforms, the SEC approved on November 4, 2003 the final versions of both the New York Stock Exchange's and Nasdaq's corporate governance proposals. Generally, both sets of rules require listed companies to have a majority of their boards comprised of independent directors. In addition, the rules impose significant responsibilities on listed companies' nominating, compensation, and audit committees. With certain exceptions, both NYSE and Nasdaq companies will have until the earlier of (i) the company's first annual meeting occurring after January 15, 2004 or (ii) October 31, 2004 to comply with the new rules. This article compares both sets of new rules to current rules, discusses the differences between the NYSE's and Nasdaq's new rules and suggests steps issuers should take to comply with the new rules.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1108/15285810310813185
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