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
FRIENDS: Now More Than Ever
Independent journalism has become the last firewall against government and corporate lies. Yet, with frightening regularity, independent media sources are losing funding, closing down or being blacked out by Google and Facebook. Never before has independent media been more endangered. If you believe in Common Dreams, if you believe in people-powered independent media, please support us now and help us fight—with truths—against the lies that would smother our democracy. Please help keep Common Dreams alive and growing. Thank you. -- Craig Brown, Co-founder
Public Citizen is a national, nonprofit consumer advocacy organization founded in 1971 to represent consumer interests in Congress, the executive branch and the courts.