Financial Reform Act Triggers Significant New Executive Compensation Requirements

On July 21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law.

While most of the talk surrounding the Act involves speculation as to how the SEC and the national securities exchanges will exercise the rulemaking authority given to them under the Act to fashion new, and potentially significant, corporate governance and executive compensation requirements for public companies, several of the Act's corporate governance and executive compensation requirements became effective upon enactment.

For a brief discussion of these immediately effective provisions, please see our recently-published Advisory on this subject.

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