NYSE 303A.09 requires listed companies to adopt and disclose formal corporate governance guidelines

NASDAQ has no analogous requirement, although many NASDAQ companies have voluntarily adopted guidelines

Text of Rule

Listed companies must have
corporate governance guidelines

• Developed in first instance by
  nominating/corporate governance committee
• NYSE notes that no single set of guidelines is appropriate for all companies
• Guidelines must be posted to the company's website

At a minimum, guidelines must cover

• Director qualification standards
• Director responsibilities
• Key committee responsibilities
• Director access to management and independent advisors
• Director compensation
• Director orientation and continuing education
• Management succession
• Annual performance evaluation of the board

Applies to

Does not apply to

American International Group (AIG)  NYSE

Amgen  NasdaqNM

Biogen IDEC  NasdaqNM

Cendant  NYSE

Cisco  NasdaqNM

Citigroup  NYSE

Coca-Cola  NYSE

Comcast  NasdaqNM

Dell  NasdaqNM

Exxon Mobil  NYSE

Hewlett-Packard  NYSE

Intel  NasdaqNM

JP Morgan Chase  NYSE

General Motors  NYSE

Intel  NasdaqNM

Merck  NYSE

Microsoft  NasdaqNM

National City Corp  NYSE

Oracle  NasdaqNM

Pfizer  NYSE

SBC Communications  NYSE

Starbucks  NasdaqNM

Raytheon  NYSE

Time Warner  NYSE

Wal-Mart  NYSE

National City Corp

Corporate Governance