Below is a summary of the SEC corporate governance requirements of companies publicly-listed in the stock exchange. a. Boards need to consist of at least 3 independent directors of 1/3 of the board which is higher. b. Boards need to hold regular executive sessions of independent directors without management present. c. Boards must have a corporate governance committee composed at least 3 of independent directors. d. The corporate governance committee must have a written charter that addresses the committee's purpose and responsibilities, and there are must be annual performance evaluation of the committee. e. Boards must have an audit committee with a minimum of three independent directors. f. The audit committee must have a written charter that addresses the committee's purpose and responsibilities, and the committee must produce an audit committee report; there must also be an annual performance evaluation of the committee