Corporate Governance Advisor articles from March 2004

Corporate Governance Advisor archives from March 2004

Director independence under NYSE and NASDAQ requirements.(National Association of Securities Dealers Automated Quotation)(New York Stock Exchange)
March 1, 2004... After more than a year of proposals and amendments, governance reforms of the New York Stock Exchange (NYSE) and NASDAQ were finalized in November 2003 containing new requirements for director independence. (1) The final rules of these...

Aggressive restriction of D&O insurance policies after securities lawsuits.(Liability Insurance)(Director and Officer)
March 1, 2004... The stock market bubble and crash from 1998 to 2001 and the ongoing stream of corporate scandals like Enron, WorldCom, and Tyco have put corporate governance under the microscope. The actions of business leaders are now at the lowest levels...

The new shareholder approval rules for equity compensation plans.(Executive Compensation)
March 1, 2004... This year, holding an annual meeting of shareholders presents more risks than ever before. Already, a number of companies have adjourned their meetings in order to solicit additional votes as a result of new shareholder approval requirements....

Second Circuit primer on securities litigation re-emphasizes stringent PSLRA and other pleading requirements.(Securities Litigation)(Private Securities Litigation Act of 1995)
March 1, 2004... The US Court of Appeals' recent decision in Rombach v. Chang (1) addresses several important, and in one case first impression, securities class action litigation issues, including the heightened pleading standards required by the Private...

Streamlining access to the corporate ballot.(Shareholder Access)
March 1, 2004... The Securities and Exchange Commission's (SEC's) shareholder access proposal has attracted a vast number of comment letters and a heated debate. In my view, the rule proposed by the SEC is a positive step in the desirable direction of making...

DOL provides fiduciary guidance for dealing with mutual fund scandal.(Fiduciary Responsibility)
March 1, 2004... Since news of the mutual fund scandals broke in fall 2003, many fiduciaries have become concerned about their obligations with respect to plan investment in mutual funds. In response, the US Department of Labor (DOL) recently issued guidance...