On June 25, 2010, the House-Senate Conference Committee released the text of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”). The Act makes significant changes to executive compensation and corporate governance rules for all public companies and reconciles the financial reform bill passed by the House in December 2009 with the bill passed by the Senate in May 2010. The House has passed the Act, and the Senate is expected to do so soon, and it is expected to be signed into law by the President in the coming weeks.

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