The Securities and Exchange Commission has been happy to put off rulemaking on new compensation disclosures required by the Dodd-Frank Act, partly because Congress didn’t include deadlines in the law. But according to the SEC, new rules aren’t far off.
Despite wiggle room in the Dodd-Frank Act that allows the agency more time to adopt the rules, the SEC said in a recent report that it will soon issue proposals on the requirements. “While the Dodd-Frank Act did not mandate a deadline for their adoption, the Commission will also consider additional executive compensation requirements.” The statement was made in its Performance and Accountability Report for Fiscal Year 2011 released last month. The Commission’s fiscal year ended on Sept. 30.
