Donate Today!

January 25, 2011
4:09 PM

CONTACT: Public Citizen

Phone: 202-588-1000

SEC Executive Pay Rules Are a Key Step

Statement of Lisa Gilbert, Deputy Director of Public Citizen’s Congress Watch Division

WASHINGTON - January 25 - Today in an expected 3-2 vote, the Securities and Exchange Commission adopted important final rules on “say on pay.” Due to these rules, public companies will now need to submit their executive compensation for a non-binding shareholder vote.

Public Citizen applauds this as an important step following the passage of Wall Street reform legislation.

Investors who own shares in a company should have a say in the compensation of their executives and on the golden parachutes given to departing CEOs.

This rulemaking is a key step in the right direction toward stopping the billion-dollar bonuses that incentivize risk and destabilize our economy.

Public Citizen is a national, nonprofit consumer advocacy organization founded in 1971 to represent consumer interests in Congress, the executive branch and the courts.


Note: Disqus 2012 is best viewed on an up to date browser. Click here for information. Instructions for how to sign up to comment can be viewed here. Our Comment Policy can be viewed here. Please follow the guidelines. Note to Readers: Spam Filter May Capture Legitimate Comments...