Two Senate leaders Wednesday, Sept. 6, called on Congress and the Securities and Exchange Commission to crack down on executives who manipulated their stock options grants.
Sens. Richard Shelby, R-Ala., and Charles Grassley, R-Iowa, said the recent options backdating scandal obligates lawmakers to ensure that the SEC’s investigative budget remains sufficient to ferret out instances of options rigging schemes and gives Congress incentive to rework tax laws favoring stock-based compensation for executives over cash salaries.
