SEC Approves Exchanges’ Proposed Rules for Compensation Committees and Their Advisers

February 05, 2013

The U.S. Securities and Exchange Commission (“SEC”) formally approved several new listing rules proposed by NASDAQ and the NYSE on January 11, 2013.1 The new listing rules are designed to bring the listing standards of each exchange into compliance with both the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) and Rule 10C-1 of the Securities Exchange Act of 1934 (“Rule 10C-1”) which governs compensation committees of listed companies.

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