SEC approves NYSE, NASDAQ governance standards.

• Position: SEC News; Secutites and Exchange Commission - Brief Article

The SEC OK'd new rules proposed and adopted by the New York Stock Exchange and Nasdaq Stock Market requiring widespread strengthening of corporate governance standards for listed companies.

The rules establish a stringent, more detailed definition of independence for directors and require a majority of members on listed companies' boards to meet that standard.

Additionally, the changes include a number of provisions that...