On July 24, 2002, the Board of Directors of the Nasdaq Stock Market, Inc. (“Nasdaq”) adopted new corporate governance guidelines to be forwarded to the Securities and Exchange Commission (“SEC”) for final approval.

The new corporate governance guidelines will apply to companies with securities listed on the Nasdaq National Market System and the Nasdaq Small Cap Market. The guidelines are more encompassing in many respects than current corporate governance protocols currently in place in many public companies. As such, it will be necessary for boards of directors and executive management to closely review the new corporate governance guidelines and recommend appropriate changes or requirements to remain in compliance with Nasdaq standards.

To review a summary of the proposed corporate governance guidelines on the Nasdaq website, please click here.

For more information concerning this or other corporate governance or securities related matters, please contact Charles J. Ferry at (717) 233-5731.