SEC Chairman Says Dodd-Frank Rulemaking Will Proceed

For public companies wondering when long-pending Dodd-Frank rules will hit, SEC Chairman Jay Clayton has promised action. In a January 22 speech at the Securities Regulation Institute, Chairman Clayton assured those present that "It is the SEC's obligation to complete the rules mandated by Congress in Dodd-Frank," but noted that "We will have to be flexible in timing, in sequence and in content." Currently there are at least four governance areas still in need of final rules, namely pay-versus-performance (proposed April 2015) executive pay clawbacks (proposed July 2015), disclosure of hedging policies (proposed February 2015) and disclosures about payments made by resource extractors (proposed December 2015).