In a move that further weakens executives' influence overthe setting of their compensation, public companies will soon facenew requirements that they disclose any conflicts of interestinvolving their compensation consultants in their proxystatements.
The Securities and Exchange Commission mandated that U.S. stockexchanges propose new listing standards to that effect thisSeptember, standards that are to take effect next June.
Robin Ferracone, CEO of the executive compensation consultancyFarient Advisors, says the new standards are no surprise. “The SECdidn't depart much from what the Dodd-Frank Financial Reform Actcalled for so my sense is that most of this has already been takeninto account by public company boards.”
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