文档介绍：Corporate Governance Rule Proposals
Reflecting mendations from the
NYSE Corporate Accountability and Listing mittee
As Approved by the NYSE Board of Directors August 1, 2002
The following is the principal text of the rule filing submitted by the Exchange to the
Securities and mission on August 16, 2002. It includes the proposed corporate
governance standards, as well as the related changes made to certain other Exchange rules. It
also includes the summary of the ments received by the Exchange on the June 6,
2002 Report and mendations of the Corporate Accountability and Listing Standards
Committee. This summary ments is a required part of the rule filing submitted to the
SEC. The rule filing is subject to review and approval by the SEC, which includes an additional
ment period.
The New York Stock Exchange (the “Exchange” or “NYSE”) has long pioneered advances in
corporate governance. The NYSE has panies ply with listing standards for
nearly 150 years, and has periodically amended and supplemented those standards when the
evolution of our capital markets has demanded enhanced governance standards or disclosure.
Now, in the aftermath of the “meltdown” of panies due to failures of diligence,
ethics and controls, the NYSE has the opportunity – and the responsibility – once again to raise
corporate governance and disclosure standards.
On February 13, 2002, Securities and mission (“SEC”) Chairman Harvey Pitt
asked the Exchange to review its corporate governance listing standards. In conjunction with
that request, the NYSE appointed a Corporate Accountability and Listing mittee
(the “Committee”) to review the NYSE’s current listing standards, along with recent proposals
for reform, with the goal of enhancing the accountability, integrity and transparency of the
Exchange’s panies.
mittee believed that the Exchange could best fulfill this goal by building upon the
strength of the NYSE and its panies in the areas of corporate governance and
discl