For Immediate Release
After Years of Delay, CEO to Median-Paid Worker Rule to Be Finalized
MEDIA ALERT: Expert Available to Address CEO Pay Ratio Disclosure Rule From the Securities and Exchange Commission
WASHINGTON - WHAT: On Wednesday, Aug. 5, the U.S. Securities and Exchange Commission (SEC) is expected to finalize a rule requiring all publicly traded companies to disclose the CEO’s pay as a multiple of the median-paid worker at the firm. This rule was mandated by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.
WHO: Bartlett Naylor is available for comment. He is the financial policy advocate for Public Citizen’s Congress Watch division and formerly served as chief of investigations for the U.S. Senate Banking Committee. As chair of the executive compensation task force for Americans for Financial Reform, Naylor has worked with the coalition to press for a robust final version of the rule.
Naylor is available by email at firstname.lastname@example.org or by phone at (202) 454-5186 or (202) 580-5626 (cell).
For more background on the rule see:
• Public Citizen comment letter (PDF) to the SEC;
• Public Citizen comment (PDF) on SEC’s recent analysis of eliminating certain workers from calculation;
• Commentary on overblown assertions of compliance costs;
• Report (PDF) on industry lobbying expenditures;
• Commentary on tardy SEC rulemaking, with links to related Public Citizen reports; and
• Commentary addressing certain industry objections.
Public Citizen is a national, nonprofit consumer advocacy organization founded in 1971 to represent consumer interests in Congress, the executive branch and the courts.