SEC Adopts Rule For Exchanges On Compensation

Law360, New York (June 20, 2012, 7:46 PM EDT) -- National securities exchanges will soon be required to shed light on public companies' boards of directors and compensation advisers, the U.S. Securities and Exchange Commission said Wednesday.

A new rule adopted by the SEC directs exchange listing standards to address the independence of the members on a compensation committee as well as the committee’s authority to retain compensation advisers.

Exchanges must also disclose the committee’s consideration of the independence of any compensation advisers and the committee’s responsibility for the appointment, compensation and oversight of the work...
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