Exequity Client Alert: SEC Issues Proposed Rules on Independence of Compensation Committees and Their Advisers

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On March 30, 2011, the Securities and Exchange Commission issued proposed rules to implement the provisions of Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which added Section 10C to the Securities Exchange Act of 1934. This Client Alert provides an overview of these proposed rules, a timeline for future actions related to the proposed rules, and Exequity's commentary on the proposed rules. Finally, the Client Alert includes a summary of Section 10C by provision along with the corresponding newly proposed rules.

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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.

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