NEW YORK, Feb. 9, 2004 – The NYSE announced the launch of eGovDirect.com, a Web site to assist its listed companies with the electronic submission and management of their corporate-compliance information. eGovDirect is an interactive tool developed by the Exchange to bring greater efficiency to the corporate-governance reporting processes.
“Our listed companies will benefit greatly from eGovDirect’s ability to help them interpret and comply with the NYSE’s governance standards,” said Janice O’Neill, NYSE vice president, Corporate Compliance. “The power to access, evaluate and file their governance information electronically will be a valuable resource, greatly improving communications between the Exchange and its listed issuers.”
The secure, password-protected Web site serves as a centralized corporate-governance database for all NYSE listed companies. It enables them to administer their compliance data electronically, eliminating the need to manually file documents. eGovDirect keeps listed companies informed of their completed and outstanding governance obligations, including written affirmations, CEO certifications, shareholder meeting dates, and profiles of executives and board members. Additionally, the system will proactively alert companies when their compliance or reporting items are due.
The site provides listed issuers with value-added governance tools to assist them in structuring their governance programs. A comprehensive director search feature helps identify viable board candidates by accessing a comprehensive database of directors from public and non-public companies. The “independence wizard” helps companies better understand the application of NYSE standards and gives companies the capability to evaluate a current or potential director’s independence. The site also offers eGovDirect Benchmarksm, a unique tool that will allow companies to compare their governance structure alongside that of any subset of their NYSE listed peers.
“It’s a very comprehensive site,” said Kristina Veaco, assistant general counsel at McKesson Corporation (NYSE: MCK). “It gives us a complete picture of the information the NYSE has regarding our company.”
Successfully tested by focus groups consisting of NYSE listed companies, eGovDirect.com also features a fully secure platform and a redundant architecture for 100-percent uptime.
More Information on eGovDirect is available at www.nyse.com/egov