Snapshot: New SEC Compensation Adviser Rules

Law360, New York (June 29, 2012, 6:54 PM EDT) -- On June 20, 2012, the U.S. Securities and Exchange Commission adopted final rules implementing Section 952 of the Dodd-Frank Act.[1] The rules were adopted with some changes from the proposal[2] and direct national securities exchanges, including the NYSE and Nasdaq, to adopt rules addressing:

The independence of compensation committee members; Compensation committee authority to retain advisers; Compensation committee consideration of the independence of advisers; and Compensation committee responsibility for the appointment, compensation and oversight of advisers.

The exchanges are directed to file their rules with the...
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