On April 1, the SEC adopted new rules directing the NYSE, Nasdaq and AMEX to prohibit the listing of any security of a company that is not in compliance with certain audit committee requirements established by the Sarbanes-Oxley Act. Public companies whose securities are listed with an SRO must be in compliance with the relevant listing standards by the earlier of their first annual meeting after January 15, 2004 or October 31, 2004.
To read about the new rules, please see the MoFo website for our legal update, SEC Adopts Final Rules on Listing Standards for Audit Committees.