SEC Issues Compensation Committee and Compensation Consultant Independence Rules as Required by the Dodd Frank Act

more+
less-

On June 20, 2012, the Securities and Exchange Commission (the “SEC”) published final rules (the “Compensation Rules”) requiring securities exchanges to change their listing standards with respect to compensation committee independence and authority, and requiring additional proxy statement disclosures regarding compensation consultants. The Compensation Rules implement Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) as follows:

Requirement

New Rule 10C-1 under the Exchange Act of 1934 directs US securities exchanges to adopt listing standards requiring listed companies’ compensation committees (1) to solely comprise independent directors based on consideration of certain factors, and (2) to have the authority to retain, oversee and pay compensation advisers, and to consider certain factors regarding the independence of the compensation advisers...

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© White & Case LLP | Attorney Advertising

Written by:

more+
less-

White & Case LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×