On October 18th, the SEC proposed rules that would enable shareholders to cast advisory votes on executive compensation and "golden parachute" arrangements. If approved the proposed rule would require companies to conduct a separate shareholder advisory vote to approve the compensation of executives. In addition, the proposed rule would require companies soliciting votes to approve merger or acquisition transactions to provide disclosure of certain "golden parachute" compensation arrangements and, in certain circumstances, to conduct a separate shareholder advisory vote to approve the golden parachute compensation arrangements. The SEC also proposed rules requiring institutional investment managers to annually file with the SEC their votes on say-on-pay, frequency of say-on-pay votes, and "golden parachute" arrangements. Comments on either proposal should be submitted on or before November 18th, 2010. SEC Press Release.