October 21 2002
The New York Stock Exchange (NYSE) Corporate Accountability and Listing Standards Committee recently released its report recommending certain changes to its listing standards. The new listing standards would require companies listed on the NYSE (other than foreign private issuers) to adopt specified governance practices as a condition of listing. The changes are significant and impose requirements which differ in many respects from those to which Canadian companies listed on the Toronto Stock Exchange (TSX) are subject.
Some of the major differences that will emerge between corporate governance regulation
in Canada and the United States if the report's recommendations are adopted are as follows:
For further information on this topic please contact Debra Forman at Davies Ward Phillips & Vineberg LLP by telephone (+1 416 367 6975) or by fax (+1 416 863 0871) or by email (DForman@dwpv.com).
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