The SEC has released a timeline for implementing the Dodd-Frank Act requirements it has responsibility over. The full timeline can be found HERE.
Here is a summary of the timing for SEC action regarding executive compensation provisions:
October — December 2010
- §951: Propose rules regarding shareholder votes on executive compensation, golden parachutes
- §951: Propose rules regarding disclosure by investment advisers of votes on executive compensation
- §952: Propose exchange listing standards regarding compensation committee independence and factors affecting compensation adviser independence; propose disclosure rules regarding compensation consultant conflicts
January — March 2011
- §951: Adopt rules regarding shareholder votes on executive compensation, golden parachutes
- § 951: Adopt rules regarding disclosure by investment advisers of votes on executive compensation
April — July 2011
- §952: Adopt exchange listing standards regarding compensation committee independence and factors affecting compensation adviser independence; adopt disclosure rules regarding compensation consultant conflicts
- §§953 and 955: Propose rules regarding disclosure of pay-for-performance, pay ratios, and hedging by employees and directors
- §954: Propose rules regarding recovery of executive compensation
- §957: Propose rules defining “other significant matters” for purposes of exchange standards regarding broker voting of uninstructed shares