Legal Updates8.2.2011 SEC Delays Some Dodd-Frank Executive Compensation Rules
On July 29, 2011, the Securities and Exchange Commission (SEC) delayed its schedule for adopting rules on the four principal remaining executive compensation rules to be issued under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The adoption dates for rules on the following topics were moved to the January-June 2012 period. This delay means that these rules will not be in place for the 2012 proxy season. The four executive compensation topics on which rules have been delayed are:
Two remaining pieces of the Dodd-Frank Act rules affecting executive compensation are still scheduled to be adopted by the end of 2011. The first is the rules regarding disclosure by institutional investment managers of how they voted on say-on-pay and say-on-frequency proposals. The second is the rules providing the guidelines for the adoption of new listing standards addressing compensation committee independence and factors affecting compensation adviser independence along with disclosure rules regarding compensation consultant conflicts (see our April 28, 2011, news alert). McGuireWoods Employee Benefits & Executive Compensation Group Our employee benefits and executive compensation lawyers provide comprehensive services to a wide range of clients, including publicly held companies, small and large privately held companies, tax-exempt organizations and educational institutions. If you would like to receive our legal news updates by e-mail, please use our online sign-up form. McGuireWoods news is intended to provide information of general interest to the public and is not intended to offer legal advice about specific situations or problems. McGuireWoods does not intend to create an attorney-client relationship by offering this information, and anyone's review of the information shall not be deemed to create such a relationship. You should consult a lawyer if you have a legal matter requiring attention. |
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