• SEC Approves NYSE and Nasdaq Listing Standards Relating to Independence of Compensation Committees and Their Advisers
  • January 29, 2013
  • Law Firm: Alston Bird LLP - Atlanta Office
  • On January 11, 2013, the Securities and Exchange Commission (SEC) approved the amended listing standard of the New York Stock Exchange (NYSE) and The NASDAQ Stock Market (Nasdaq) (collectively the “Exchanges”) pertaining to compensation committee independence and compensation advisers. The Exchanges proposed the listing standards in accordance with Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) and the requirements of Rule 10C-1 of the Securities Exchange Act of 1934 (“Exchange Act”). Prior to the SEC’s final approval, the Exchanges filed amendments to their proposed listing standards. This advisory summarizes the respective amendments and the final listing standards approved by the SEC.