It has been just over five years since the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed, but the government is still in the process of churning out rules on its provisions. The latest regulation to be finalized is the pay ratio rule, which the U.S. Securities and Exchange Commission approved on Wednesday by a 3-2 margin.
Since Dodd-Frank passed, this particular rule has generated a lot of controversy, and its implementation may have political and public relations consequences for companies that far outweigh the financial or compliance burdens. Even so, in-house counsel need to be aware of the content of the final rules and should start thinking about how to prepare for full implementation, which is slated for 2017.
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