Now that the rest of the country (in addition to us compensation nerds) is starting to realize what the U.S. Congress imposed on them in the Dodd-Frank Act. For example, see this article from the Financial Times, “Dodd-Frank act presents companies with a PR minefield." In another article entitled “US pay law branded ‘logistical nightmare’,” Prof. Charles Elson, a corporate governance professor at the University of Delaware observes the troubling fact that: “This is a political disclosure, as opposed to an economic disclosure, and that’s the problem.”
I already have made several presentations on the executive compensation provision of Dodd-Frank and the need to begin preparing for them soon. Even the most cynical executives in directors shake their head in disbelief over some of the Dodd-Frank provisions. There is some good in Dodd-Frank. Some of it codifies best practices for Compensation Committees. However, as with so many laws passed under both Democratic and Republican administrations (see Sarbanes-Oxley), the Dodd-Frank Act will provide lots of work for lawyers while placing additional burdens on business.