The NYSE and the Nasdaq filed proposed changes to their listing standards for the independence of Compensation Committee members and Committee advisers.
For the most part the Exchanges closely tracked earlier SEC guidance issued in this area under the 2010 Dodd-Frank Act. This Alert highlights important alterations made by the Exchanges in the three key areas collectively called the Independence Rules:
- Compensation Committee Independence
- Compensation Committee Roles and Responsibility
- Adviser Independence