We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you agree to our use of cookies. To close this message click close.

SEC adopts Dodd-Frank Act rules on compensation committees and their advisers

29 June 2012

SEC Update

On June 20, the SEC adopted a new rule and amended its existing proxy rules to implement Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Section 10C of the Securities Exchange Act of 1934. New Rule 10C-1 under the Exchange Act directs the national securities exchanges, which include the New York Stock Exchange and the NASDAQ Stock Market, to establish listing standards concerning the independence of compensation committee members, the authority of compensation committees to engage advisers, and the independence factors compensation committees should consider in selecting their advisers. In addition, the SEC amended Item 407 of Regulation S-K to require public companies to disclose information concerning conflicts of interest arising from the compensation committee’s engagement of a compensation consultant.

Read: "SEC adopts Dodd-Frank Act rules on compensation committees and their advisers"

The team

Loading data