On September 11, 2009, the SEC published for comment proposed changes to certain of the corporate governance requirements in Section 303A of the NYSE’s Listed Company Manual. The proposed changes clarify a number of provisions, including the time by which companies listing in conjunction with an initial public offering, spin-off or carve-out must comply with the audit committee requirements, that closed-end funds choosing to include a “Management’s Discussion of Fund Performance” must have their audit committee meet to review and discuss it, and that closed-end funds are subject to the provision regarding shareholder approval of equity compensation plans. The changes would eliminate the required annual certification by CEOs that they are not aware of any violations by the company of NYSE listing standards. Instead, revised Section 303A.12(b) would require listed companies to notify the NYSE in writing after an executive officer becomes aware of any non-compliance with Section 303A. Currently, notification is only required for material non-compliance. The changes are proposed to take effect January 1, 2010.