Mr. Obama's fight with Wall Street began last year with his proposals for greater oversight of compensation and a consumer financial protection commission.
Globally, transparency and oversight of compensation will be the main topics of concern at markets with less-detailed disclosure, as the case of Carlos Ghosn at Nissan exemplifies.
In addition to benchmarks on individual elements of compensation packages, the report provides details on shareholder advisory votes on executive compensation (say-on-pay) and outlines the major practices on board oversight of compensation design.
In March 2009, The Conference Board Governance Center convened the Task Force on Executive Compensation to address the loss of public trust in the processes for oversight of executive compensation.
Mr. Obama's "Say on Pay" legislation calls for greater shareholder oversight of executive compensation.
Mr. Geithner made it clear on Tuesday that he would be pushing for tighter oversight of executive compensation, in part to make sure that financial incentives did not encourage reckless financial practices.
And, despite outrage over lavish bonuses and much talk about curtailing excessive risk-taking on Wall Street, President Obama has made only a modest proposal for greater shareholder oversight of executive compensation, leaving it to the French to press for stronger curbs on excessive pay.
Rather, we need things that government can best provide -- oversight of executive compensation, protections for unions, a decent minimum wage, and a progressive tax system, for example.
So just on first blush, that Thursday night, we made it clear, meeting much resistance on the part of the administration, that those four things, equity, forbearance, oversight, and reform of compensation.
The compensation committee of an issuer shall be directly responsible for the appointment, compensation, and oversight of the work of independent legal counsel and other advisers.
But under the administration's new plans, even companies that repay the taxpayer money will not escape some form of oversight on their compensation structure.
