As 2013 dawns, spare a moment to consider the additional responsibilities being piled on the shoulders of audit and compensation committees by the Securities and Exchange Commission and its cohorts. Needless to say, in-house counsel will shoulder much of the burden.
As activist shareholders demand a say on pay, compensation committees will face fresh regulatory pressure to intensify their scrutiny of the people who advise them to ensure they are completely independent and not subject to conflicts of interest.
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