Congress To Tackle Executive Compensation

Law360, New York (November 10, 2006, 12:00 AM EST) -- As the shifting balance of power in Washington moves Massachusetts Democrat Barney Frank closer to the lead role in the House Financial Services Committee, legislation mandating that executive compensation packages at publicly traded companies be subject to shareholder approval has emerged as a distinct possibility.

Frank, 66, who has represented Massachusetts’ Fourth District since 1981, is the senior Democrat on the Financial Services Committee. Frank is poised to replace Sarbanes-Oxley Act co-author and current Financial Services Committee Chairman Michael Oxley (R-Ohio).

Frank’s outlook on executive compensation...
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