AMEX Approves Proposed Changes To Corporate Governance Rules
- Topics:
- Investor Relations
- Tags:
- Akin Gump Strauss Hauer & Feld,
- Rule Change,
- Financial Accounting,
- Finance,
- Corporate Law,
- Corporate Governance,
- Change,
- Business Operations,
- Board,
- Audit,
- ...
- Source:
- Akin Gump Strauss Hauer & Feld
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Overview: The American Stock Exchange (AMEX) announced that its board of governors had approved proposed changes to its corporate governance rules. The rule changes are intended to increase disclosure requirements, strengthen board oversight and audit committee responsibility, and provide for increased shareholder rights for AMEXlisted companies. Before the new rules become effective, and before the text of these rules is made available to the public, the proposed changes must be filed with the Securities and Exchange Commission (SEC) for its review and approval. It is anticipated that the requirements applicable to board and audit committee composition would become effective two years following SEC approval of the proposed rule changes, unless earlier implementation is otherwise required by SEC rules adopted pursuant to the Sarbanes-Oxley Act. The other proposed changes would generally become effective within six months of SEC approval, or - in the case of the disclosure requirements, sanctions, and AMEX employee prohibitions - immediately. This alert gives a summary of the current proposed changes.
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Format: PDF | Size: 924KB | Date: Oct 2002 | Pages: 4
