SEC Votes to Make CEO-to-Employee Earnings Ratio Public
Securities and Exchange Commission on August 5, 2015 voted 3-2 to require publicly traded companies to disclose the ratio of CEO pay to median pay of company's employees. The new rule will become effective in 2017, ten years after Dodd-Frank Act was signed in which Sen. Robert Menendez had inserted the provision. Its delay had annoyed many liberals, including Sen. Elizabeth Warren, D-Mass, who wrote in June 2015 to SEC Chairwoman Mary Jo White complaining about the delay.
Securities and Exchange Commission on August 5, 2015 voted 3-2 to require publicly traded companies to disclose the ratio of CEO pay to median pay of company's employees. The new rule will become effective in 2017, ten years after Dodd-Frank Act was signed in which Sen. Robert Menendez had inserted the provision. Its delay had annoyed many liberals, including Sen. Elizabeth Warren, D-Mass, who wrote in June 2015 to SEC Chairwoman Mary Jo White complaining about the delay.
SEC Rules on Climate Change Impact Reporting Requirement Approved
Securities and Exchange Commission on March 21, 2022 has approved 3-1 on rules that require companies to report on how they are addressing the climate change challenges and what is the impact of action/inaction on their business models. The rules will be open to public comments for 60 days before becoming final. SEC Chairman Gary Gensler said that "companies and investors alike will benefit" from the clear and transparent rules.
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