"Which is no more than is required under Stock Exchange regulations."

Even though stock exchange regulations require compensation committee members to be independent of the executives whose remuneration they oversee, their connections with those people can run deep.

Not at all, Mr. Purcell said yesterday; changes in New York Stock Exchange regulations in recent years have cushioned the impact on the little guy.

The seal prohibits the defendant from disclosing even the mere existence of the case to anyone, including its shareholders, a fact which may cause conflicts with the defendant's obligation under Securities & Exchange Commission or stock exchange regulations that require it to disclose lawsuits that could materially affect stock prices.

It was in just such an economic environment - 1991 - that Mr. Mulder was fired from Donaldson, Lufkin & Jenrette, shortly after he told superiors that R. Christopher Hanna was routinely violating brokerage firm and New York Stock Exchange regulations intended to protect customers.