Group Demands Reform In Backdating Fallout

Law360, New York (May 31, 2006, 12:00 AM EDT) -- A financial analysts group has asked the U.S. Securities and Exchange Commission for changes as companies continue to face fallout from backdating stock options awarded to executives.

The CFA Centre for Financial Market Integrity, a nonprofit professional association in Charlottesville, Va., urged the SEC to make several changes, including dating all prior-year compensation committee meetings in the annual proxy statement and disclosing if executives are permitted to select grant dates for their options.

The SEC is investigating whether some companies look in the past and select...
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