November 24, 2014
SEC’s Reg Flex Agenda: Pay Rulemakings Pushed Back to October ’15
– Broc Romanek, CompensationStandards.com
As I have blogged many times (here’s the latest one), the SEC’s Reg Flex Agendas tend to be “aspirational” – and experience bears that out as the SEC often misses its “targeted” deadlines. So no sooner than I blogged about Corp Fin’s silence about the timing of the Four Horsemen rulemakings at the ABA Fall meeting on Friday, the SEC issued its latest Reg Flex Agenda. This Reg Flex Agenda notes that the pay ratio rules would be adopted by October 2015 (same with investment managers disclosing their say-on-pay votes) – and that the clawback, pay-for-performance and hedging rules would be proposed by October 2015 as well. We’ll see if that really happens. Don’t hold your breath…
As noted in this WSJ article, three Republican members of Congress have asked the SEC to slow down on its pay ratio rulemaking.