SEC Adopts Final Compensation Committee Independence and Related Rules
On June 20, 2012, the SEC adopted final rules to implement Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”). As required by the Dodd-Frank Act, the rules direct the national securities exchanges to draft listing standards establishing independence requirements for the compensation committees of listed issuers’ boards of directors. As expected, the SEC has left to the exchanges the task of defining “independence.” Read more
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