June 6, 2003
A joint survey conducted by
A joint survey conducted by ACCA/NACD was just released with some interesting results. A poll of 600 directors and general counsel demonstrates significant agreement about who bears responsibility for the recent wave of corporate governance scandals – and considerable doubt about the proposed remedies. See http://www.acca.com/Surveys/resp_corpgov.pdf.
As requested by the SEC after the short-lived Sandy Weill nomination for the NYSE board snafu, the NYSE has started the reform of its own corporate governance – with a special committee recommending disclosure of NYSE officer compensation and bars from such officers sitting on NYSE-listed company boards. See http://www.washingtonpost.com/wp-dyn/articles/A21876-2003Jun5.html?nav=hptoc_b.
For TheCorporateCounsel.net subscribers, we have posted an interview with Mayer Brown’s Mike Hermsen and Phil Niehoff on the Effect of Recent Rules on Non-US Auditors and Companies at http://www.thecorporatecounsel.net/member/InsideTrack/06_05_03_Hermsen.htm.