On June 8, 2017, the House of Representatives passed, by a 233-186 vote (with all Democrats and one Republican voting against), the Financial CHOICE Act of 2017, a bill principally designed to reverse many features of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank). The House Financial Services Committee majority has provided both an executive summary and a comprehensive summary of the current bill. It is unclear at this time what action the U.S. Senate will take with regard to the bill in its current form.
While the vast majority of the bill relates to the … Read more
The SEC has proposed rules to implement the “CEO pay ratio” disclosure requirements under Section 953(b) of the Dodd-Frank Act.
The proposed rules would require many SEC reporting companies to publicly disclose the following information:
- the median annual total compensation of all employees of the company (excluding the CEO);
- the annual total compensation of the CEO; and
- the ratio of the median annual total compensation of all employees (excluding the CEO) to the annual total compensation of the CEO.
In an effort to address the concerns raised by comments received in advance of the proposed rules over significant compliance costs … Read more