Say-On-Pay Bill Unveiled In Senate

Law360, New York (March 1, 2010, 2:00 PM EST) -- Sen. Robert Menendez, D-N.J., has introduced legislation that would give shareholders at public companies advisory say on executives' pay packages and create new rules to punish executives whose risk-taking leads to failure or fraud.

S. 3049, the Corporate Executive Accountability Act of 2010, unveiled Friday, builds on separate legislation passed by the U.S. House of Representatives, H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act, that has been added to Democrats' comprehensive financial regulatory reform package.

Menendez is a member of the U.S. Senate Banking...
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