NYSE Listed Company Manual Section 314.00

Key provisions:

• Listed companies must have the audit committee or another independent board committee review related party transactions before they occur to identify and address potential conflicts of interest.
• The reviewing body must prohibit a transaction if it is not in the best interests of the company and its shareholders.
• Related party transactions are those that must be disclosed under SEC rules (or equivalent disclosure requirements for foreign private issuers).
• Companies must continuously reevaluate these transactions, even after approval.
• The NYSE monitors disclosures and may remind companies of their ongoing responsibility to assess whether related party transactions should continue.