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These added costs of the pay disclosure would be bearable if there was evidence it would do anything.
The expanded executive pay disclosure rules will take effect next spring, when companies send annual proxy disclosures to shareholders.
The proposal is part of the Dodd-Frank financial overhaul legislation, which requires the S.E.C. to amend existing rules on pay disclosure.
Alan Beller, a lawyer and former S.E.C. official who began the pay disclosure overhaul, said of compensation reports, "It isn't easy.
Under Securities and Exchange Commission pay disclosure requirements, the investment bank reported a total pay figure of $11.9 million for Mr. Wasserstein, according to a regulatory filing.
Together, greater pay disclosure combined with the majority voting standard, will provide safeguards to ensure compensation practices are aligned with investors' best interests.
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She added that American banks would expand their pay disclosures in regulatory filings in the future, but she did not give a date.
The latest pay disclosures come amid expectations that the industry will soon face scrutiny of the way it treats small business customers.
This week, in a pre-emptive strike against rules that have not yet been written, Senator Richard Shelby of Alabama, the ranking Republican on the Banking Committee, introduced a bill that would weaken the executive pay disclosures required by Dodd-Frank.
"Unlike current CEO pay disclosures that don't really get a lot of attention from the rank-and-file, this one will," Seelig said, referring to the new SEC disclosure rule.
Snooze-worthy pay disclosures are currently endemic: Many companies use boilerplate language, attempting to comply with SEC rules while providing as little information as possible.
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