NYSE addresses corporate governance best practice

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NEW YORK - The New York Stock Exchange (NYSE) has announced it is to form an independent advisory commission to take a comprehensive look at strengthening US best practices for corporate governance and the proxy process.

The advisory commission will be chaired by Larry Sonsini, chairman of Wilson, Sonsini, Goodrich & Rosati, who chaired the former proxy working group formed by the NYSE in 2005.

Other members will be announced soon, and will comprise experts in all aspects of corporate governance and the US proxy system so that a wide variety of perspectives can be collected, including those of public companies, shareholders, and institutional and individual investors.

"As an institution, we are uniquely positioned to bring together leading experts on important issues to create a constructive dialog in the financial community regarding corporate governance that will benefit issuers, investors and the overall market," says Duncan Niederauer, chief executive officer at NYSE Euronext. "The creation of this advisory commission is consistent with our mission to serve the investing public. We look forward to working with the advisory commission to achieve a better and more efficient governance and proxy process."

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