The Securities and Exchange Commission is proposing that certain SEC filings would have to include new disclosure related to various executive compensation and corporate governance practices. For example, companies would have to discuss how their overall compensation policies create incentives for risk-taking by management, if the resulting risks could have a material effect on the company. The SEC anticipates that these changes would be effective for the 2010 proxy season. The new disclosures would be required in U.S. companies’ proxy statements and, in some cases, companies’ annual and quarterly reports on Forms 10-K and 10-Q and prospectuses filed in respect of public offerings (other than under the MJDS).