The House of Representatives in a 237-185 vote approved a bill that would give shareholders of public companies annual advisory votes on executive compensation and requires regulators to set disclosure requirements and incentive-based compensation standards for financial institutions with more than $1B in assets
The bill, H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act of 2009, passed the House a day after a report by the New York Attorney General’s office detailing the 2008 bonuses paid to executives at nine of the financial institutions that took billions in government money under the Troubled Asset Relief Program.
