SEC Approves Tougher Listing Standards

The governance standards for public companies are getting a bit tougher.

The Securities and Exchange Commission on Tuesday approved new listing standards proposed by the New York Stock Exchange and the Nasdaq Stock Market. Among other things, the new standards tighten requirements for independent corporate directors and increase the power of those directors on companies' nominating and compensation committees.

The new rules are not as strict as those initially drawn by the NYSE. But governance experts praised them as significant and important reforms. ...