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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Softechie who wrote (29967)2/13/2002 4:18:52 PM
From: Softechie  Read Replies (1) of 99280
 
SEC Asks NYSE, Nasdaq To Review Corp Governance Issues

13 Feb 15:15

WASHINGTON -(Dow Jones)- Securities and Exchange Commission Chairman Harvey
Pitt called on the New York Stock Exchange and Nasdaq Wednesday to review
corporate governance and listing standards.

"Recent events have underscored the need for public companies to have a
strong commitment to full disclosure and compliance with all regulatory
regimes to which their companies are subject," Pitt said in a letter sent to
the chairmen of the NYSE and Nasdaq.

Pitt acknowledged that no amount of rules will stop those willing to put
personal interest ahead of company interests, but he said there are a "number
of ways that current corporate governance standards can be improved to
strengthen the resolve of honest managers and the directors who oversee
management's actions."
Chairman Pitt also indicated that the NYSE has established a special
committee on corporate accountability to examine corporate governance issues.

He said that the committee may require continuing education programs for
officers and directors.

Later Wednesday, the NYSE confirmed that it has set up a special committee
on corporate governance and that it will issue a report as early as June.

Nasdaq officials didn't return calls for comment.

-By Phil McCarty, Dow Jones Newswires; 202-862-9251;
Phil.McCarty@dowjones.com
(This story was originally published by Dow Jones Newswires)
Copyright (c) 2002 Dow Jones & Company, Inc.

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