SEC Unveils Stricter Rules On Public Disclosures

Law360, New York (December 16, 2009, 7:51 PM EST) -- Citing the need to help shareholders “evaluate the leadership” of public companies, the U.S. Securities and Exchange Commission on Wednesday announced new rules requiring companies to disclose compensation policies, directors' and officers' backgrounds and qualifications, and other information in proxy statements.

The rules, to take effect Feb. 28, aim to achieve more transparency within corporate governance, a priority of late for the SEC, which also recently approved rules to regulate dark pools.

The most recent rules will expand from five to 10 years the period for...
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