SEC Delays Approval of NYSE & Nasdaq Compensation Committee Listing Standards until January 13, 2013
The SEC has delayed the approval of the NYSE and Nasdaq listing standards relating to compensation committees and advisors until January 13, 2013. Action was due by November 29, 2012.
The SEC gave itself more time to consider the proposed rule changes as well as the fourteen comment letters it received relating to the proposed rule changes.
- Six comment letters on the NYSE proposed rule change
- Seven comment letters on the Nasdaq proposed rule change
- One comment letter on the NYSE Arca proposed rule change
- No other comment letters were received for any of the other Exchanges’ proposed rule changes
While this delay will impact the effective date of the Nasdaq listing standards (effective upon SEC approval), unless further changes are made, this delay will not otherwise impact the relevant effective dates.
Click here for more information on the proposed NYSE and Nasdaq listing standards.