People’s United Financial, Inc. (the “Company”) has a standing Audit Committee, which is responsible for monitoring the accounting practices and internal controls of the Company and has sole authority over the supervision of the Company’s annual independent audit by independent registered public accountants.
The members of the Audit Committee are William F. Cruger, Jr. (Chairman); George P. Carter, Jerry Franklin, Janet M. Hansen and Mark W. Richards.
The Board of Directors has determined that each member of the Audit Committee is “independent” as that term is defined by applicable NASDAQ listing standards and rules promulgated by the Securities and Exchange Commission.
The Board of Directors has also determined that Directors Willam F. Cruger, Jr. and Janet M. Hansen meet the requirements of an “Audit Committee Financial Expert,” as that term is defined under Section 407 of the Sarbanes Oxley Act of 2002 and implementing regulations adopted by the Securities and Exchange Commission.
The Audit Committee’s Charter was approved by the Board of Directors in April, 2018.