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Pay-disclosure advocates chafe at SEC© rule delays

Publisher: Marketwatch
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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