SEC proposes delisting for violation of audit committee rules

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10 Jan 2003

The US SEC has proposed a rule that would direct the US securities exchanges and associations to prohibit the listing of any security of an issuer that is not in compliance with the audit committee requirements established by the Sarbanes-Oxley Act of 2002. The proposed rule would apply to both domestic and foreign listed issuers.

Several provisions have been included that seek to address the special circumstances of particular foreign jurisdictions. (PDF 45k).

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