Tag Archives: Executive Compensation

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AFR Opposes HR 1135

AFR sent a letter to members of Congress opposing HR 1135, the “Burdensome Data Collection Relief Act.” This legislation would repeal Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires that companies report the ratio of CEO to median worker pay.

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AFR in the News: House Panel Approves Bill to Exempt New Firms From Pay Votes

“On Feb. 16, the U.S. House Financial Services Committee voted overwhelmingly to approve a bill that would exempt newly public companies from holding say-on-pay votes for five years. …Americans for Financial Reform (AFR), a coalition of consumer and investor groups that includes the AFL-CIO, has urged the Senate Banking Committee to reject the emerging company legislation. The coalition criticized the auditor attestation exemption and noted that say-on-pay votes have nothing to do with eliminating barriers to new IPOs.”

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AFR in the News: Corporate Groups Seek SEC Roundtable on Pay Ratio Disclosure

“A coalition of corporate organizations has asked the U.S. Securities and Exchange Commission to hold a roundtable before proposing rules to implement the CEO-employee pay ratio disclosure mandate of Section 953(b) of the Dodd-Frank Act. …In response, the Americans for Financial Reform (AFR), a group that includes the AFL-CIO and other supporters of Section 953(b), argues that the business coalition’s request for a roundtable is an attempt ‘to stifle the rule, not to enhance the rulemaking process.’”

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AFR Pushes For Tougher “Claw Back” Rules

AFR submitted a comment on rules implementing the “claw back” provisions that permit the FDIC to recoup pay and bonuses from executives of a failed bank that is being resolved under the FDIC’s orderly liquidation authority. AFR favors tougher and more comprehensive claw back rules.

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AFR Urges Members of Congress to Oppose H.R. 1062

Read our letter to members of congress urging their opposition to H.R. 1062, that will repeal Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 953(b) requires public companies to disclose the pay disparity ratio between the company CEO and the median employee of the company.