For Immediate Release
SEC Executive Pay Rules Are a Key Step
Statement of Lisa Gilbert, Deputy Director of Public Citizen’s Congress Watch Division
WASHINGTON - 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
This rulemaking is a key step in the right direction toward stopping
the billion-dollar bonuses that incentivize risk and destabilize our
This is the world we live in. This is the world we cover.
Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do.
Public Citizen is a national, nonprofit consumer advocacy organization founded in 1971 to represent consumer interests in Congress, the executive branch and the courts.