The SEC's decision to tweak disclosure rules on executive compensation is already under fire from congressional critics. The SEC issued a statement last week saying new rules would lower the amount of total compensation that companies must disclose next year. Rep. Barney Frank of Massachusetts, the incoming Democratic chairman of the House Financial Services Committee, said Wednesday he is "very disappointed" with the substance of the new rules and with the procedure the SEC used to decide on the changes.
December 29, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Securities and Exchange Commission’s decision to tweak disclosure rules on executive compensation is already under fire from congressional critics.
Rep. Barney Frank of Massachusetts, the incoming Democratic chairman of the House Financial Services Committee, said Wednesday he is “very disappointed with both the substance and the procedure used to reach the SEC’s Christmas holiday decision to loosen reporting requirements for the pay of the top executives of public corporations.”
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