NEW YORK, Dec. 13, 2006 (PRIME NEWSWIRE) -- The Nasdaq Stock Market, Inc. (Nasdaq:NDAQ) today released the following statement from Bob Greifeld, president and chief executive officer of NASDAQ:
"We welcome the important changes proposed by the SEC today. I believe the proposed rules will allow companies to focus on the most important aspects of internal controls and financial reporting, while removing unnecessary expense. In doing so, it addresses some of the key Section 404 issues that created a perception gap with regard to the cost and potential jeopardy of regulatory compliance in the U.S. markets as compared to other capital market centers.
"It will also allow for a more meaningful recognition of the good Sarbanes-Oxley has done -- independent directors, more effective disclosure, and audit committees that are more accountable and involved. These elements are preserved as bulwarks of investor confidence," said Bob Greifeld, President and Chief Executive Officer of The Nasdaq Stock Market, Inc.
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, its systems trade more shares per day than any other U.S. market. NASDAQ is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
CONTACT: NASDAQ Media: Bethany Sherman (212) 401-8714