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Piwowar Jabs Again at Pay Ratio Rule

Matt Kelly | August 9, 2015

Let it never be said that Michael Piwowar, Republican member of the Securities and Exchange Commission, does not argue his views energetically.

When the SEC adopted its CEO pay ratio disclosure rule on Aug. 5, Piwowar denounced and fulminated as any self-respecting conservative would—at one point dismissing the rule as “Saul Aliskyian tactics by Big Labor and their political allies.” The rule passed anyway on a 3-2 vote along the usual party lines. All five commissioners published their own statements about the rule, as they often do when voting on major policy questions.

Now, in case anyone remains unclear on Piwowar’s feelings or who Saul Alisky is, Piwowar has taken the extraordinary step of publishing a second statement about the pay ratio...

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