House of Representatives Passes Executive Pay Limits
Today the House of Representatives passed legislation, which if enacted into law, would require publicly traded companies to hold an annual shareholder "nonbinding, advisory vote" on executive compensation, according today's House Financial Services Committee press release. Additionally, it would require publicly traded companies' compensation committees to be made up of independent directors, also according to today's press release.
The bill, the Corporate and Financial Institution Compensation Fairness Act (H.R. 3269), would require financial institutions with more than $1 billion in assets to "disclose compensation structures that include incentive-based elements," as described in both the bill's summary and today's press release.
Click here for the bill's summary, and click here for the press release.
