Increased role for US independent directors
The US Securities and Exchange Commission is expected to approve reforms giving more power to independent company directors.
Link: Higgs report
Measures to be approved by early October will require company boards to have a majority of independent directors, a move which follows closely, the recommendations set out in the UK’s Higgs report.
In addition, the nominating committee, the compensation committee, and the audit committee will have to comprise of only independent directors.