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SEC, House Crack Down On Executive Pay

Law360 (March 9, 2007, 12:00 AM EST) -- Executive compensation may soon come under heavier scrutiny, with the U.S. Securities and Exchange Commission and Congress taking steps to alter the convoluted system for reporting compensation and giving shareholders a chance to weigh in.

SEC Chairman Christopher Cox on Thursday discussed the agency’s efforts to simplify and streamline the disclosure process to make it easier for shareholders to access and review a company’s statements.

Cox’s comments followed Rep. Barney Frank’s (D-Mass.) introduction on March 2 of a bill that would give shareholders an unbinding vote...
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