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On July 28, the House of Representatives Financial Services Committee approved legislation that would give shareholders of publicly traded companies a non-binding advisory vote on the compensation of such companies’ named executive officers at annual meetings of shareholders to elect directors
On July 16, the U.S. Treasury Department delivered draft legislation to Congress that would create stringent requirements for the compensation committees of issuers that are listed on national securities exchanges
On July 16, the U.S. Treasury Department delivered draft “say-on-pay” legislation to Congress that would require that all publicly traded companies allow shareholders a non-binding vote on executive compensation as disclosed in the company’s proxy statement for annual meetings held after December 15
