On November 28, 2012, the SEC extended the deadline for taking action on proposed rule changes relating to compensation committees and their advisors from November 29, 2012 until January 13, 2013.

The New York Stock Exchange, NYSE Arca LLC, NASDAQ Stock Market LLC and other exchanges filed proposed rule changes with the SEC on September 25, 2012 to amend their listing standards relating to compensation committees and their advisors.  For further information, please see our client alerts here and here.

The SEC determined that it needed additional time to consider the proposed rule changes and the comment letters it had received.