January 18, 2006
On January 17, the Securities and Exchange Commission announced that it had voted to publish for comment proposed rules that would amend disclosure requirements for executive and director compensation, related party transactions, director independence and other corporate governance matters, and security ownership of officers and directors. These new rules, if adopted, would substantially change both the content and form of compensation disclosures required for public companies under current law.
Access SEC's press release announcing the proposal.
The text of the proposed rules has not yet been published, but is expected to be available soon on the SEC's website.
The Sarbanes-Oxley Task Force would like to thank William W. Horton (Haskell Slaughter Young & Rediker LLC, Birmingham, AL) for providing this email alert.