SEC Issues Proposed Rules Relating to Compensation Committee Independence


The Securities and Exchange Commission (the “SEC”) has issued a new proposed Rule 10C-1 and proposed amendments to Item 407(e) of Regulation S-K (“Reg S-K”) (collectively, the “Proposed Rules”) implementing Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which added a new Section 10C of the Securities Exchange Act of 1934 (the “Exchange Act”). Section 10C of the Exchange Act generally deals with the independence of compensation committee members and with compensation committee advisors. Read more ...