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ARTICLE · 21 MARCH 2013

Amendments To Compensation Committee Charters

Mayer Brown
Mayer Brown
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The New York Stock Exchange, the Nasdaq Stock Market and other US stock exchanges have adopted new compensation committee listing standards to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act and related SEC Rule 10C-1.

United StatesCorporate/Commercial Law

Keywords: amendments, compensation committee charters, Nasdaq, NYSE listing standards

The New York Stock Exchange, the Nasdaq Stock Market and other US stock exchanges have adopted new compensation committee listing standards to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act and related SEC Rule 10C-1. Among other matters, the new NYSE listing standards heightened the independence requirements for compensation committee membership and added to the requirements for compensation committee charters. In addition, Nasdaq created a requirement that Nasdaq-listed companies have a compensation committee and a compensation committee charter with specified requirements; Nasdaq also established heightened independence requirements for compensation committee members. Many public companies will need to amend their compensation committee charters to comply with the new listing standards, and to the extent that they do not currently have a compensation

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