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SEC Likely To Spare Secrecy Of Katie Couric's Riches

Law360 (July 20, 2006, 12:00 AM EDT) -- The Securities and Exchange Commission is preparing to vote next week on the most significant overhaul of executive compensation disclosure rules since 1992. But as the vote nears, it’s becoming clear the controversial “Katie Couric clause” will be scrapped or heavily altered, leaving veiled the salaries of star-power nonexecutives.

The clause would have forced companies to disclose the pay of up to three nonexecutives who earn more than the firm’s top five officers. A request for public comment on the provision drew a huge lobbying response,...
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