RE:Allow me connect the dots..............again, what Prof Corn On Cob conveniently omitted is NASDAQ also requires independent Director also,in if Diageo moves on APH., are they then non-independent Directors ?! So to Canadian exchanges, but we all knew that .. The SEC staff frequently comments during its review process about the lack of an established corporate governance structure, such as board member independence and board committee composition, by OTC quoted issuers, even if not required by SEC and national securities exchange rules.
The SEC staff has regularly prioritized its review of corporate governance disclosure in registration statements, proxy statements and periodic reports. Much of this required disclosure, especially with regard to board member independence and board committee composition, is effectuated through the rules of national securities exchanges, namely the NYSE and Nasdaq, as a result of the Sarbanes-Oxley Act of 2002. Companies whose shares are quoted in the over-the-counter market, however, are not required to comply with the same national securities exchange rules as are NYSE and Nasdaq traded companies. Regardless, OTC quoted companies (e.g., companies whose shares are listed on the OTC Market Group's OTCQB or Pink marketplace) should be aware that the SEC
wants to know how and why they do or don’t meet NYSE/Nasdaq-level corporate governance standards.
Aside from Item 407(a) of Regulation S-K, which requires issuers to explain how they define
“independence” .......
=+=+=+=+=+ ProfCornelius - (9/28/2018 9:00:26 PM) In one of Aphria's latest sedar document you will notice that a number of independent directors have been nominated to Aphria's board of directors. The reason for this is quite simple....It is an NYSE requirement for a listed company to have independent directors! B I N G O #dotsconnected Allow me connect the dots....................... In one of Aphria's latest sedar document you will notice that a number of independent directors have been nominated to Aphria's board of directors. The reason for this is quite simple....It is an NYSE requirement for a listed company to have independent directors! B I N G O #dotsconnected