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Rethink Pay-Versus-Performance Plan, SEC Is Told

July 9, 2015, 4:00 AM

Financial and business trade groups, large companies and law firms asked the SEC to scrap large parts of its “pay-versus-performance” proposal in favor of a “principles-based approach” that would allow companies to disclose performance metrics of their choosing.

The Securities and Exchange Commission received 64 comment letters on the proposal by the July 6 deadline. The proposal would require a company to disclose in proxy and other information statements its top executive’s actual pay, average actual pay for other named executives and “total shareholder return” on an annual basis 83 DER EE-9, 4/30/15.

The measure, authorized by Section 953(a)...

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