In September 2010, the SEC posted a proposed schedule for considering rules to implement various provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This schedule can be found at http://www.sec.gov/spotlight/dodd-frank/dfactivity-upcoming.shtml. The schedule for rulemaking to implement Dodd-Frank provisions related to compensation, corporate governance and securities offerings is as follows:
October‑December 2010 (planned)
- §413 – Propose rules to revise the "accredited investor" standard, with a goal of adoption by April‑July 2011
- §926 – Propose rules disqualifying the offer or sale of securities in certain exempt offerings by certain felons and others similarly situated, with a goal of adoption by April‑July 2011
- §951 – Propose rules regarding shareholder votes on executive compensation and golden parachutes, with a goal of adoption by January‑March 2011
- §951 – Propose rules regarding disclosure by investment advisers of votes on executive compensation, with a goal of adoption by January‑March 2011
- §952 – Propose exchange listing standards regarding compensation committee independence and factors affecting compensation adviser independence; propose disclosure rules regarding compensation consultant conflicts, with a goal of adoption by April‑July 2011
April‑July 2011 (planned)
- §§953 and 955 – Propose rules regarding disclosure of pay-for-performance, pay ratios and hedging by employees and directors
- §954 – Propose rules regarding recovery of executive compensation
- §957 – Propose rules defining "other significant matters" for purposes of exchange standards regarding broker voting of uninstructed shares
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
