SEC Narrowly Passes Pay-Disclosure Rule

Law360, New York (September 18, 2013, 4:24 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday voted in favor of a proposed rule requiring public companies to disclose how much their CEOs make compared to other workers, inching one step closer to implementing the Dodd-Frank Act requirement proposed three years ago.

The proposal won 3-2 and will next be open to public consideration, according to an SEC spokesman. The proposed rule calls on companies to include a ratio of CEO-to-worker annual compensation in regulatory filings, SEC Chairman Mary Jo White said Wednesday at an...
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