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SEC Proposal on TARP 'Say on Pay' Votes; Non-TARP Companies Should Also Take Heed (PDF)
Morgan Lewis 
[Guidance Overview] July 13, 2009 4 pages. Excerpt: The SEC proposals would implement Section 7001 of the American Recovery and Reinvestment Act of 2009 (ARRA),2 which amended Section 111 of the Emergency Economic Stabilization Act of 2008 (EESA),3 to require any recipient of financial assistance under TARP to solicit nonbinding shareholder approval of 'the compensation of executives, as disclosed pursuant to the compensation disclosure rules of the Commission (which disclosure shall include the compensation discussion and analysis, the compensation tables, and any related material).' Although the SEC proposals apply only to TARP recipients, other non-TARP companies should also be interested in these proposals. MORE >> |
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