Akin Gump Strauss Hauer & Feld
In March 2003, New York Stock Exchange (NYSE) and NASDAQ Stock Market, submitted to the Securities and Exchange Commission (SEC) proposed listing standards related to board composition and director independence. The proposed listing standards will affect the composition of the boards of directors and audit committees of listed companies and will impact the individual members of the board. Some of these standards include Board Composition, Board Of Directors - Who Is ?Independent?? Audit Committee Standards and Responsibilities.