About Prudential

 

NYSE & Prudential plc's Corporate Governance Rules and Practice



On November 4, 2003, the New York Stock Exchange (the “NYSE”) established new corporate governance rules. The application of the NYSE’s rules is restricted for foreign companies, recognising that they have to comply with domestic requirements. As a foreign private issuer, Prudential must comply with four NYSE rules:

  1. The Company must satisfy the audit committee requirements of the SEC;
  2. The Group Chief Executive must promptly notify the NYSE in writing after any executive officer of the Company becomes aware of any material non-compliance with any applicable provisions of Section 303(A) of the NYSE’s Listed Company Manual;
  3. The Company must submit an executed written affirmation annually to the NYSE affirming the Company’s compliance with applicable NYSE Corporate Governance Standards and submit an interim written affirmation each time a change occurs to its audit committee; and
  4. The Company must provide a brief description of any significant difference between its corporate governance practices and those followed by US companies under the NYSE listing standards.
As a company listed on the London Stock Exchange, Prudential is required to comply with the Financial Service Authority’s Listing Rules, Disclosure and Transparency Rules and Prospectus Rules, and to report and explain non-compliance with the Combined Code on Corporate Governance, which was issued by the Financial Reporting Council.

View the table disclosing the differences between Prudential's domestic practice and the NYSE rules (PDF, 42 KB, opens in a new window)

This table is also included in the relevant section of Prudential's Annual Report on Form 20-F.

  
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