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Pay-disclosure advocates chafe at SEC rule delays
Author: Eric Garcia
Supporters of a rule that would require public companies to disclose the ratio between executive and median employee pay say the SEC should move soon to enact the regulation.
Under Dodd-Frank law, publicly traded companies have to disclose the ratio of executive pay to that of media employees. The disclosure must come at annual shareholder meetings. The SEC is responsible for implementing the requirement.
In September 2013, commissioners voted 3-2 to propose creating the rule. Testifying before the Senate Banking Committee in September 2014, SEC Chairwoman Mary Jo White said the commission hoped to finish the rule by the end of the year.
The commission hasn’t yet set a to vote on the proposal. A source familiar with the matter said scheduling is at White’s discretion.
An SEC spokesman declined to comment Friday.
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