National

Dec 16, 2009 8:48 AM by Associated Press

Broader disclosure on executive pay required

The Securities and Exchange Commission is meeting this morning to adopt expanded disclosure rules for compensation at all public companies.

The rules include information on how a company's pay policies might encourage too much risk-taking. SEC officials have said they want the new rules to be in place by spring, when companies send annual proxy disclosures to shareholders. The new requirements were proposed by the SEC and opened to public comment in July.

They build on rules the agency adopted in 2006. The Obama administration imposed pay curbs on banks that received federal bailout money.

Since then, eight of the largest such banks have repaid, or said they will repay, their federal money -- largely to escape caps on executive pay.

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