Being a visible landmark piece of legislation, Sarbanes-Oxley certainly raised the bar for corporate governance in response to the recent corporate scandals. The regulatory and listing changes of the Sarbanes-Oxley Act and new stock exchange listing and approval requirements from the NYSE and NASDAQ have made significant impact on executive compensation and benefits. While Sarbanes-Oxley governs publicly traded organizations, the FDIC (Federal Deposit Insurance Corporation) has urged non-publicly traded institutions to accept these new guidelines as well.
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