Federal securities regulators are moving to require companies to provide far greater detail about their executives' pay packages and perks in an effort to bring more transparency to an area that has provoked investor and public anger.
It is good to know how much the CEO earns per month if you invest in this company. I agree.
And today the five members of the Securities and Exchange Commission will vote at a public meeting on the plan. Let's wait!
This could be the biggest changes in rules for over 10 years. The disclosure of executives' compensation was last changed in 1992. The proposal, which was expected to be approved, would be opened to a public comment period and could be formally adopted by the SEC sometime afterward, possibly in time for the spring annual-meeting season next year.
The SEC proposal in a nutshell:
-The level at which total executive perks must be detailed would be reduced from $50,000 to $10,000.
-New disclosure tables for executives' retirement benefits and the compensation of company directors would be required.
-Companies would be required to explain the objectives behind their executives' compensation. Companies' annual filings would have to include sections written in plain English on executive pay.
Want to read more? Securities and Exchange Commission: http://www.sec.gov
Greetings from Charlotte!
RvH
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