June 4, 2015
Pay Ratio & More: Senator Warren Lights a Fire
– Broc Romanek, CompensationStandards.com
Two days ago, Senator Elizabeth Warren wrote this 13-page letter to SEC Chair White expressing her unhappiness with the pace of the SEC’s rulemaking. Warren isn’t happy – and even used the Reg Flex Agenda as one reason why she feels that White hasn’t been truthful with her (see my blog from two days ago about how that is meaningless). Pretty wild stuff.
Here’s an excerpt from this WSJ article (also see this Boston Globe article & Huffington Post piece – and see this Politico article that wonders if Warren went too far and my blog entitled “Are Partisan Politics Destroying the SEC?“):
Though the SEC has recently reported it now expects to complete the rule by next spring, Ms. Warren said that deadline—revealed in a list of agency projects published by an arm of the White House—appears to contradict what Ms. White said in a face-to-face meeting last month with Ms. Warren. In that meeting, the SEC chairman predicted the SEC would complete the rule “by fall,” Ms. Warren wrote. “I am perplexed as to why you told me personally that the rule would be completed by the fall of 2015 when it appears that you were or should have been aware of additional delays,” Ms. Warren wrote.
With all this SEC rulemaking in the compensation arena, I just rejiggered the two-day agenda for our big pair of “Proxy Disclosure/Executive Pay Practices” conferences – 2000 attendees in-person and more online – for which a 20% discount expires at the end of this Friday, June 5th! Register now!