FAR Finalizes Exec Pay, Subcontract Reporting Rules

Law360, New York (July 26, 2012, 5:40 PM EDT) -- The Federal Acquisition Regulatory Council finalized rules on public reporting of first-tier subcontracts and contractor executive pay on Thursday, while also proposing new rules to limit agencies' expansion of contracts whose costs depend on time-and-materials or labor-hours.

The Federal Funding Accountability and Transparency Act of 2006 requires the Office of Management and Budget to create a free, public, website of federal contract award information, requiring contractors to report compensation for their top five executives, and first-tier subcontractor awards on contracts of $25,000 or more.

Thursday's rule...
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