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Oct 04, 2012

The NYSE and Nasdaq Issue Proposed Rules to Implement the SEC Compensation Committee Independence and Advisor Rules

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On September 25, 2012, each of the New York Stock Exchange (the “NYSE”) and the NASDAQ Stock Market (“Nasdaq”) filed proposed changes to their listing standards. The proposed changes are in response to the final rules issued by the Securities and Exchange Commission (the “SEC”) on June 20, 2012 (the “Final Rules”), directing the national securities exchanges to adopt listing standards relating to the independence of compensation committees and their selection of advisors pursuant to Rule 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. While the proposed listing standards largely reflect the Final Rules, they contain some deviations from the Final Rules and from each other.

View full memo, "The NYSE and Nasdaq Issue Proposed Rules to Implement the SEC Compensation Committee Independence and Advisor Rules"

Authors and Contributors

John J. Cannon III

Partner

Compensation, Governance & ERISA

+1 212 848 8159

+1 212 848 8159

New York

Kenneth J. Laverriere

Partner

Compensation, Governance & ERISA

+1 212 848 8172

+1 212 848 8172

New York

Doreen Lilienfeld

Partner

Compensation, Governance & ERISA

+1 212 848 7171

+1 212 848 7171

New York

Linda Rappaport

Of Counsel

Compensation, Governance & ERISA

+1 212 848 7004

+1 212 848 7004

New York

George Spera, Jr.

Counsel

Compensation, Governance & ERISA

+1 212 848 7636

+1 212 848 7636

New York